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Supreme Court Allows NCDC's Appeal in Income Tax Dispute Over Deduction of Grants as Revenue Expenditure. Grants disbursed by a statutory corporation as part of its business are deductible under Section 37 of the Income Tax Act, 1961, regardless of the capital nature of the source funds.

The National Co-operative Development Corporation (NCDC), established under the National Co-operative Development Corporation Act, 1962, is a statutor...

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Supreme Court Allows State's Appeal in Sales Tax Reimbursement Dispute — Clarifies That Sales Tax on Works Contracts Is Levied on Goods Component, Not on Completed Items of Work. Clause 45.2 of GCC Does Not Apply When Tax Is on Transfer of Property in Goods Involved in Works Contract.

The Supreme Court allowed the appeal filed by the State of Orissa against the judgment of the Orissa High Court. The dispute arose from works contract...

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Bombay High Court Dismisses Acquiring Body's Appeal in Land Acquisition Compensation Enhancement. Compensation for playground land enhanced from Rs.30 to Rs.102 per sqm based on comparable sales and location advantages under Land Acquisition Act, 1894.

The appellant, Village Panchayat of Collem, challenged the judgment and award dated 13.01.2010 passed by the Reference Court in Land Acquisition Case ...

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Bombay High Court Enhances Compensation in Land Acquisition Reference for Jogeshwari-Vikhroli Link Road. Market Value Fixed at Rs. 100 per sq.mt Based on Expert Valuation and Comparable Sales Under Section 18 of the Land Acquisition Act, 1894.

The Special Land Acquisition Officer (SLAO) filed a reference under Section 18 of the Land Acquisition Act, 1894, seeking the court's determination on...

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Bombay High Court Allows Appeals in Land Acquisition Compensation Cases, Enhancing Compensation for Acquired Land. Court holds that market value must be determined based on potential use and comparable sales, and that claimants are entitled to additional benefits under the Land Acquisition Act, 1894.

The case involves multiple first appeals arising from land acquisition proceedings initiated by the Public Works Department (PWD) for the construction...