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Jurisdictional Overreach by ITAT – Income Classification Dispute – Real Income Theory – Remand for Limited Adjudication

ITAT’s Jurisdiction Under Section 254(2) of the Income Tax Act, 1961 – Set Aside for Exceeding Mandate – Remanded for Limited Adjudication The ...

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Bombay High Court Allows Revenue's Appeal in Transfer Pricing Case — Royalty on Bad Debts Not Deductible Without Actual Sales. ITAT erred in deleting disallowance of royalty paid on bad debts where software did not work, as no sale occurred.

The case involves an appeal by the Commissioner of Income Tax under Section 260A of the Income Tax Act, 1961, against an order of the Income Tax Appel...

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Bombay High Court Rules on Disallowance Under Rule 6D and Allowability of Spouse's Foreign Travel Expenses. Disallowance under Rule 6D of Income-tax Rules, 1962 must be computed on annual per employee basis, not per trip; expenditure on wife's foreign trip allowable if wholly and exclusively for business.

The case is an income tax reference under Section 256(1) of the Income-tax Act, 1961, arising from a dispute between the Commissioner of Income-tax, B...

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Bombay High Court Allows Deduction for Record Production Bonus and Other Expenditures in Income Tax Reference. Payment of record production bonus not hit by section 36(1)(ii) as it was not paid out of profits but as an incentive for extra labour.

This is an income tax reference at the instance of the Revenue (Commissioner of Income Tax) against the assessee, M/s. Tata Iron & Steel Company Limit...

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Bombay High Court Allows Revenue's Appeal in Part and Assessee's Appeal on Mortgage Repayment Issue. Repayment of mortgage debt created by the assessee is an expenditure incurred in connection with the transfer of mortgaged asset allowable under Section 48(i) of the Income Tax Act, 1961.

The judgment involves two tax appeals, one by the revenue and one by the assessee, arising from a common issue regarding the allowability of repayment...

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Bombay High Court Allows Assessee's Appeal in Income Tax Case Regarding Deduction of Mortgage Repayment Under Section 48(i). The court held that repayment of mortgage debt is an expenditure incurred in connection with transfer of mortgaged asset, allowable under Section 48(i) of Income Tax Act, 1961.

The judgment involves two tax appeals, one by the revenue and one by the assessee, arising from a common issue regarding the allowability of mortgage ...