Search Results for "Income Tax Act interest"

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Search Results for "Income Tax Act interest"

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High Court

Bombay High Court Allows Revenue Appeals in Income Tax Cases on Disallowance of Interest Expenditure on Tax-Free Securities. Held that Section 14A of the Income Tax Act, 1961 read with Rule 8D of the Income Tax Rules, 1962 mandates disallowance of expenditure incurred in relation to income not includible in total income, and the Assessing Officer must record satisfaction before invoking Rule 8D.

16 Apr 2019

The judgment involves a batch of appeals filed by the Revenue under Section 260A of the Income Tax Act, 1961, challenging orders of the Income Tax App...

High Court

Bombay High Court Hears Writ Petition Challenging Taxability of Interest Received on Enhanced Motor Accident Compensation. Petitioner Claims Interest is Capital Receipt and Not Taxable; Revenue Relies on Sections 56(2)(viii) and 145A(b) of Income Tax Act, 1961.

8 Aug 2019

The petitioner, a 48-year-old man rendered paraplegic and bedridden since a road accident at age 8, filed a writ petition challenging the taxability o...

High Court

Bombay High Court Allows Appeals in Income Tax Case on Disallowance of Interest on Borrowed Capital and Deduction of Wealth-Tax Paid. Interest on borrowed capital used for acquiring a capital asset is allowable under Section 36(1)(iii) of the Income Tax Act, 1961, and wealth-tax paid is deductible under Section 37(1) of the Act.

4 Dec 2023

The present appeals relate to the assessment years 1986-87, 1987-88, 1988-89, 1989-90, 1990-91, 1991-92 and 1993-94. The appellant, T.V. Patel Pvt. Lt...

High Court

High Court of Karnataka Dismisses Revenue's Appeals in Co-operative Bank Tax Case — Interest Income from Non-Members Taxable Under 'Profits and Gains of Business or Profession'. Section 80P(4) of Income Tax Act, 1961 Excludes Co-operative Banks from Deduction Under Section 80P(2)(a)(i) for Interest Income from Non-Members.

22 Jun 2016

The case involves multiple appeals filed by the Revenue (Commissioner of Income Tax and other officers) under Section 260A of the Income Tax Act, 1961...

High Court

KAHC010028192013_1

26 Sep 2014

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High Court

Bombay High Court Hears Income Tax Appeal Filed by Assessee Company Under Section 260A of Income Tax Act, 1961. The Court’s Judgment Reserved on 12 June 2025 and Pronounced on 20 June 2025.

20 Jun 2025

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Supreme Court

Supreme Court Allows Deduction Under Section 80HH on Gross Profits Without Deducting Depreciation and Investment Allowance. The Court Overruled Motilal Pesticides and Held That Section 80HH Deduction Is Computed on 'Profits and Gains' Not 'Income'.

1 Mar 2019

The Supreme Court considered a batch of civil appeals concerning the interpretation of Section 80HH of the Income Tax Act, 1961, for the Assessment Ye...

High Court

High Court of Karnataka Adjudicates Income Tax Appeals Filed by Assessee and Revenue Under Section 260-A of Income Tax Act, 1961. Multiple Appeals Clubbed for Hearing Involving Assessment Years 2001-2002 to 2004-2005.

25 Mar 2015

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Supreme Court

Supreme Court Allows Revenue Appeal: Rectification Under Section 35 of Income-tax Act Valid for Mistake Arising from Retrospective Amendment. Retrospective Operation of Proviso to Section 18-A(5) Renders Original Assessment Order Erroneous on Face of Record.

28 Apr 1958

The dispute arose from the retrospective amendment of Section 18-A(5) of the Indian Income-tax Act, 1922 by the Indian Income-tax (Amendment) Act, 195...

High Court

High Court of Bombay Allows Insurer's Petition Challenging Warrant of Attachment for TDS Deduction on Interest Component of Motor Accident Compensation Award. The court held that the insurer's deduction of TDS under Section 194A of the Income Tax Act, 1961, though erroneous because the claimant was an individual entitled to exemption under Section 194A(3)(ix), did not justify attachment as the TDS amount was already deposited with the Income Tax Authority and the claimant could seek refund.

15 Nov 2016

The New India Assurance Company Limited (Petitioner) challenged an order dated 21 November 2014 passed by the Maharashtra Accident Claims Tribunal, Mu...

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