Search Results for "Rental Income"

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Madras High Court Partly Allows Insurance Company's Appeal Reducing Compensation in Motor Accident Claim. Rental Income from House Property Excluded from Loss of Dependency Calculation Under Motor Vehicles Act, 1988.

The case arises from a motor accident claim petition filed by the dependents of one A.Ramesh Babu, who died in a road accident on 19.05.2024. The dece...

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Madras High Court Allows Deduction Under Section 80IA for Income from Operation and Maintenance of Software Technology Park. The Court held that income from leasing out property with amenities constitutes business income eligible for deduction under Section 80IA of the Income Tax Act, 1961.

The appellant, M/s. Tidel Park Ltd., filed an appeal under Section 260A of the Income Tax Act, 1961 against the order of the Income Tax Appellate Trib...

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"Supreme Court of India Resolves Complexities in Taxation of Mineral Rights" "Judgment Clarifies Legislative Powers and the Nature of Royalty in Mining Sector"

The Supreme Court of India addressed a significant dispute regarding the distribution of legislative powers between the Union and the States, specific...

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Supreme Court Upholds Vesting of Land in State for Violation of Scheduled Tribe Land Transfer Restrictions. Exchange of Land by Scheduled Tribe Member Without Prior Permission and in Disproportionate Value is Void Under U.P. Zamindari Abolition and Land Reforms Act, 1950.

The case involves an appeal by the Additional Commissioner, Revenue and others against the judgment of the Uttarakhand High Court which set aside orde...

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High Court of Karnataka Dismisses Revenue's Appeal in Income Tax Case — Tribunal's Deletion of Rental Income Addition Upheld. Rental income from property held as stock-in-trade is assessable under 'Income from House Property' and not 'Business Income' as per Section 22 of the Income Tax Act, 1961.

The present appeal was filed by the Revenue under Section 260-A of the Income Tax Act, 1961, against the order dated 27.02.2015 passed by the Income T...

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Bombay High Court Dismisses Petition Challenging Arbitral Award in Lease Finance Dispute — Depreciation Disallowance and Penalty Recoverable Under Contract. Arbitrator's interpretation of lease clauses upheld as plausible; no interference under Section 34 of Arbitration & Conciliation Act, 1996.

The petitioner, Aditya Birla Chemicals (I) Limited, filed a petition under Section 34 of the Arbitration & Conciliation Act, 1996, challenging an arbi...

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Bombay High Court Allows Revenue's Appeal in Part on Deduction Under Section 80HHC of Income Tax Act, 1961 — Insurance Claim and Sundry Receipts Held Not Directly Related to Business Profits, Rental Income Treated as Business Income, Retrenchment Compensation Held Revenue Expenditure.

The case pertains to an appeal by the Revenue under Section 260A of the Income Tax Act, 1961, against the order of the Income Tax Appellate Tribunal (...