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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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Bombay High Court Quashes Reassessment Notice and Order in Income Tax Case Due to Lack of Full and True Disclosure Finding and Non-Disposal of Objections. Reopening Beyond Four Years Invalid as No Failure to Disclose Material Facts Alleged Under Section 147 First Proviso of Income Tax Act, 1961.

The petitioner, Crystal Pride Developers, a partnership firm engaged in real estate development, filed its original return of income for Assessment Ye...

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Bombay High Court Allows Claimant's Appeal for Enhanced Compensation in Motor Accident Case — Functional Disability of Barber Assessed at 100% Due to Leg Injury. Compensation Enhanced from Rs.2,38,100 to Rs.9,96,000 Under Section 166 of Motor Vehicles Act, 1988.

The appellant, Sunil @ Bapu Damodar Jagtap, a barber aged 49 years, sustained a permanent disability due to a leg injury in a motor vehicle accident. ...

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Bombay High Court Allows Assessee's Appeal on Proportional Increase of Advertisement Limit and Deductibility of Statutory Fund Transfer. Holds that Section 37(3A) limit must be proportionately increased for extended previous year and transfer to statutory storage fund is deductible under Section 37(1).

This judgment by the Bombay High Court addresses four questions of law referred by the Income Tax Appellate Tribunal under Section 256(1) of the Incom...