Search Results for "business profits"

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Bombay High Court Dismisses NHAI Appeals in Land Acquisition Compensation Disput...
Bombay High Court Issues Notice in Service Matter Challenging Deletion of Names ...
High Court of Karnataka Allows Appeals Against Ex Parte Interim Injunction in Pr...
High Court of Karnataka Allows Revision Petition in Private Complaint Case — T...
High Court of Karnataka Allows Revision Petition in Private Complaint Case — T...

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High Court

Madras High Court Allows Assessee's Appeal in MAT Computation Case — Capital Gain on Sale of Fixed Assets Cannot Be Added to Book Profit Under Section 115JB When Not Credited to Profit and Loss Account. The Court held that the Assessing Officer cannot rework book profit under Section 115JB by including capital gains directly absorbed in the balance sheet, as the computation under Section 115JB must be based on the profit as shown in the profit and loss account prepared in accordance with the Companies Act.

20 Mar 2026

The appellant, M/s PVP Corporate Parks Pvt. Ltd., a private limited company engaged in leasing and renting of amenities and buildings, filed its incom...

High Court

Madras High Court Dismisses Revenue's Appeals in Insurance Company Tax Case — Upholds ITAT Order on Disallowance of Claims and Deductions. The court held that the assessee's method of accounting for outstanding claims and the deduction under Section 80M were correctly allowed by the Tribunal.

9 Jan 2025

The case involves a batch of appeals filed by the Principal Commissioner of Income Tax, Chennai, under Section 260A of the Income Tax Act, 1961, again...

Supreme Court

Supreme Court Allows Appeal in Civil Suit for Recovery of Possession - Sets Aside Summary Judgment and Decree for Eviction. The Court held that the plaint did not disclose a valid cause of action as it was based on ambiguous lease expiry and future events, making summary judgment under Order XII Rule 6 of the Code of Civil Procedure, 1908 improper.

22 Sep 2022

The appeal arose from a civil suit for recovery of possession of a plot of land in Delhi. The appellant, Hindustan Petroleum Corporation Ltd., operate...

Supreme Court

Supreme Court Dismisses Revenue's Appeal in Income Tax Deduction Case Under Section 80-IA. Deduction Under Section 80-IA of Income Tax Act, 1961 is Allowed Against Gross Total Income, Not Restricted to Business Income Only, Based on Interpretation of Sections 80AB and 80-IA(5).

28 Apr 2021

The dispute arose from the assessment year 2002-03 involving the Commissioner of Income Tax as appellant and M/s. Reliance Energy Ltd. as respondent. ...

Supreme Court

Supreme Court Allows NCDC's Appeal in Income Tax Dispute Over Deduction of Grants as Revenue Expenditure. Grants disbursed by a statutory corporation as part of its business are deductible under Section 37 of the Income Tax Act, 1961, regardless of the capital nature of the source funds.

11 Sep 2020

The National Co-operative Development Corporation (NCDC), established under the National Co-operative Development Corporation Act, 1962, is a statutor...

Supreme Court

Supreme Court Dismisses Department's Appeal in Permanent Establishment Tax Dispute Under India-Korea DTAA. Court Upholds ITAT's Finding of Permanent Establishment but Remands Profit Attribution for Fresh Assessment Due to Insufficient Material.

22 Jul 2020

The dispute arose from the taxability of income attributable to a permanent establishment set up in India by Samsung Heavy Industries Co. Ltd., a Sout...

Supreme Court

Supreme Court Reverses High Court in Section 80-IC Tax Exemption Case — Substantial Expansion Does Not Entitle Assessee to Reset 100% Deduction Period. The court held that the fixed exemption structure under Section 80-IC(3) cannot be altered by substantial expansion, and the total deduction period remains capped at ten years.

1 Feb 2019

The Supreme Court considered a batch of appeals arising from a common judgment of the Himachal Pradesh High Court concerning the interpretation of Sec...

High Court

Bombay High Court Dismisses Landlord's Eviction Petition in Rent Control Case — Concurrent Findings of Fact Not Disturbed. Landlord failed to prove bonafide requirement and unlawful subletting under the Bombay Rents, Hotel and Lodging House Rates Control Act, 1947.

24 Jul 2015

The petitioners, owners of a property in Thane, filed a suit for eviction of the respondents from a gala (shop) on grounds of default in rent, unlawfu...

High Court

Bombay High Court Dismisses Section 9 Petition for Appointment of Court Receiver in Partnership Dispute — Petitioner Failed to Establish Strong Prima Facie Case for Interim Relief. Court held that disputes regarding partnership accounts and alleged mismanagement must be resolved through arbitration, not by appointing receiver at interim stage.

22 Aug 2014

The petitioner, Minochar @ Minoo Aspandyar Irani, filed a petition under Section 9 of the Arbitration and Conciliation Act, 1996 seeking appointment o...

High Court

Bombay High Court Dismisses Revenue's Appeal in Income Tax Revision Case for Lack of Proper Inquiry. Commissioner's order under Section 263 set aside as no inquiry was conducted before passing the revision order.

1 Feb 2012

The appeal by the Revenue under Section 260A of the Income Tax Act, 1961, challenged the order of the Income Tax Appellate Tribunal which had set asid...

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