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Bombay High Court Allows PF Commissioner's Challenge Against Official Liquidator's Rejection of Damages and Interest Claims in Winding Up. Priority under Section 11(2) of Employees' Provident Funds and Miscellaneous Provisions Act, 1952 extends to damages under Section 14B and interest under Section 7Q.

The Regional Provident Fund Commissioner, Thane, filed a Company Application challenging the adjudication order of the Official Liquidator, High Court...

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Bombay High Court Answers Reference in Favor of Assessee-Trust in Income Tax Rate Dispute. Trust with Specified Beneficiaries and Predetermined Shares Held Non-Discretionary Under Income Tax Act, 1961, Section 256(1).

The case involved a reference under Section 256(1) of the Income Tax Act, 1961, by the Income Tax Appellate Tribunal. The respondent-assessee, Devshi ...

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Bombay High Court Allows Pension Benefits to Retired Bank Employee Despite Delay in Deposit of Contribution Amount Under Joint Note Dated 27 April 2010. The court held that the three-day period for deposit was unreasonable and that the petitioner's substantial compliance warranted granting pension.

The petitioner, Ramesh Gajanan Nigudkar, joined the Bank of Baroda as a subordinate staff member on 4 March 1967 and retired after 39 years of unblemi...

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Bombay High Court Allows Revenue Appeal in Part on Mutuality Principle for Effluent Treatment Association. Interest on Bank Deposits Held Taxable as Income from Investments, Not Covered by Mutuality.

The case involves an appeal by the Revenue under Section 260A of the Income Tax Act, 1961 against a decision of the Income Tax Appellate Tribunal for ...

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Bombay High Court Dismisses Employees' Claim for Trust Benefits After Company Closure. Closure of Company Constitutes 'Leaves the Service' Under Trust Deed, Employees Cease to Be Beneficiaries.

The case involves two originating summonses filed by M.N. Chhaya and another against P.R.S. Mani and others, and J. Pereira and others, concerning the...

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Bombay High Court Upholds Assessee in Income Tax Reference on Clubbing of Trust Income Under Section 64(1)(vii) of Income Tax Act, 1961. Trust Created Pursuant to Divorce Decree Under Parsi Marriage & Divorce Act, 1936, Constitutes Adequate Consideration, Excluding Income from Clubbing Provisions.

The case pertains to an income tax reference under section 256(1) of the Income Tax Act, 1961, at the instance of the assessee, Behram B. Dubash. The ...

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Bombay High Court Dismisses Petition Seeking Release from Investor Protection Fund Due to Client Code Mismatch. Claim Rejected as Contract Notes Did Not Match Trade Files of Stock Exchange.

The petitioner, Saurin T. Parikh, proprietor of Shah Investment, filed a writ petition seeking to set aside an order dated 25th May 2005 passed by the...