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Bombay High Court Upholds Revenue's View on Capital Gains Computation in Amalgamation Case. Assessee Not Entitled to Substitute Fair Market Value as on 1-1-1964 for Shares Acquired Under Sections 47 and 49 of Income Tax Act, 1961.

The case pertains to a reference under Section 256(1) of the Income Tax Act, 1961, at the instance of the assessee, M/s. Madhura Coats Ltd., arising f...

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Bombay High Court Allows Withdrawal of Appeal in Arbitration Dispute Over Share Delivery — Respondent's Opposition on Grounds of Hardship Not Sustained. Court Permits Withdrawal Without Prejudice to Respondent's Rights Under the Award and Pending Proceedings.

The present appeal was filed under Section 37 of the Arbitration and Conciliation Act, 1996, challenging a judgment of a Single Judge dated 2 February...

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WRIT PETITION NO.5186 OF 2001

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Bombay High Court Dismisses University's Petition Challenging Industrial Court Order Granting Permanent Status to Daily Wage Workers. Workers Employed for 240 Days Entitled to Permanency Under MRTU and PULP Act, 1971.

The petitioners, Mahatma Phule Krishi Vidyapeeth (an agricultural university) and its research station, challenged the judgment and order dated 08/08/...

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Bombay High Court Dismisses Petition Seeking Permanency for Hospital Employee — Industrial Court's Finding of No Continuous Service Upheld. Employee Failed to Establish 240 Days of Work in 12 Months Under Section 5-B of MRTU & PULP Act, 1971.

The petitioner, Kumar Dashrath Kamble, filed a writ petition before the Bombay High Court challenging the judgment and order dated 3 May 2023 passed b...

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Bombay High Court Quashes Reassessment Notices Under Section 148 of Income Tax Act, 1961 for Lack of Reason to Believe — Amount Received on Retirement from Partnership Firm Held to be Capital Receipt Not Chargeable to Tax.

The petitioners, Prashant S. Joshi and Dattaram Shridhar Bhosale, were partners in a real estate development partnership firm. They retired from the p...

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High Court of Karnataka considers power of Income Tax Appellate Tribunal to direct fresh enquiry under Section 254 of Income Tax Act, 1961 in a buy-back taxation case. The court formulates the substantial question of law regarding suo motu directions leading to potential enhancement of tax liability.

The appeal before the High Court of Karnataka arose from an order of the Income Tax Appellate Tribunal (ITAT) concerning the tax treatment of a buy-ba...

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Bombay High Court Upholds Reservation for In-service Candidates in Postgraduate Medical Courses — State Government's Policy of Granting Weightage to In-service Candidates for 50% of Seats in Government Medical Colleges Held Valid and Not Violative of Article 14 or 16 of the Constitution.

The petitioners, who were candidates for admission to postgraduate medical courses in Maharashtra, challenged the State Government's policy of grantin...

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Bombay High Court Allows Writ Petition Challenging EPF Order Due to Non-Functional Appellate Tribunal. Alternate remedy under Section 7I of Employees' Provident Funds and Miscellaneous Provisions Act, 1952 not a bar when tribunal is vacant.

The petitioner, HVPM's Degree College of Physical Education, Amravati, through its Secretary, filed a writ petition under Article 226 of the Constitut...