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Supreme Court Remands Tax Appeal to ITAT Due to Erroneous Factual Finding by Tribunal. Revenue Expenditure Dispute Under Income Tax Act, 1961 Requires Re-adjudication.

The appeal arose from a dispute concerning the assessment year 1993-94, where the respondent-assessee, Ballarpur Industries Ltd., claimed a deduction ...

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Bombay High Court Upholds Revenue in Block of Assets Case — Industrial Gala Sale Taxed as Short Term Capital Gain Under Section 50. Non-Use of Asset Does Not Remove It from Block of Assets; Depreciation History Determines Tax Treatment.

The case involves an income tax reference by the Income Tax Appellate Tribunal, Mumbai Bench, at the instance of the assessee, Smt. Meena v. Pamnani, ...

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Bombay High Court Quashes Reopening Notice Under Section 148 of Income Tax Act for Lack of Fresh Material — Assessment Reopened Beyond Four Years Without Allegation of Failure to Disclose Material Facts. Reopening Based on Change of Opinion and Audit Objection Held Invalid.

The petitioner, M/s. Lalitha Chem Industries Pvt. Ltd., is engaged in the business of manufacturing chemicals with units at Tarapur and Silvasa. For A...

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Bombay High Court Directs State to Reimburse Fees for Backward Class Students in Private Unaided Schools - State's Obligation Under Article 21-A and RTE Act

The petitions raised questions about the liability of the State to reimburse fees for elementary and secondary education to children belonging to back...

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Bombay High Court Upholds Assessee in Income Tax Reference on Section 35B Deduction and Doctrine of Merger. Commissioner Cannot Reopen Allowed Deduction After Appeal Merger Under Income Tax Act, 1961.

The case is an income tax reference under section 256(1) of the Income-tax Act, 1961, arising from a dispute between the Commissioner of Income-tax, B...