Bombay High Court Allows Revenue Appeal in Income Tax Case — Padma Vilas Palace Held to Be a Building Used as a Hotel. The Court ruled that the structure was a hotel building under Section 2(11) of the Income Tax Act, 1961, and thus the assessee was not entitled to set off under Section 50(2) for reinvestment in office premises.
31 Mar 2010The appeal by the Revenue challenged the Income Tax Appellate Tribunal's order dated 6th March 2009, which held that Padma Vilas Palace was not a buil...
