Search Results for "capital gains determination"

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Bombay High Court Allows Appeals by Acquiring Body in Land Acquisition Compensat...
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Search Results for "capital gains determination"

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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

High Court of Bombay Examines Writ Petition Challenging Rejection of Subsidy for Grain Alcohol Production Under GR Dated 08.06.2007. Petitioner Seeks Direction to Grant Special Subsidy/Incentive of Rs. 10 Per Bulk Litre and Quashing of Rejection Order Dated 24.11.2021.

9 May 2025

The present writ petition was filed before the High Court of Judicature at Bombay under its civil appellate jurisdiction by Karan Distilleries Pvt. Lt...

Supreme Court

Supreme Court Confirms Death Sentence for Rape and Murder of 7½-Year-Old Mentally Challenged Girl. Circumstantial Evidence Including Last Seen, Recovery, and Medical Reports Established Guilt Beyond Doubt; Aggravating Factors Outweighed Mitigating Factors.

6 May 2022

The Supreme Court dismissed the appeals of Manoj Pratap Singh, upholding his conviction and death sentence for the kidnapping, rape, and murder of a 7...

High Court

Bombay High Court Allows Tax Appeal in Family Settlement Capital Gains Case — Reopening Under Section 147/148 Invalid Due to Change of Opinion and Limitation. Consent Decree Approved by Civil Court Held to Be a Bona Fide Family Arrangement Not Attracting Capital Gains Tax.

8 Nov 2019

The case involves a tax appeal by the Power of Attorney holder of Lorna Margaret Pinto, a Non-Resident Indian, against the Assistant Commissioner of I...

High Court

Bombay High Court Allows Appeal in Income Tax Case on Non-Compete Fee — Amount Received for Non-Compete Agreement Not Taxable as Business Income Under Section 28(va) of Income Tax Act, 1961 When Assessee Not Carrying on Business in Relevant Year. Non-Compete Fee is Capital Receipt, Not Business Income, and Not Taxable as Capital Gains as No Transfer of Capital Asset.

13 Apr 2015

The case involves two appeals by Arun Toshniwal and Anurag A. Toshniwal against the order of the Income Tax Appellate Tribunal (ITAT) which held that ...

High Court

Bombay High Court Dismisses Revenue Appeals in Transfer Pricing Adjustment Cases — Holds That Arm's Length Price Determination Must Be Based on Reliable Comparable Data and Functional Analysis. The Tribunal's deletion of adjustments was upheld as it correctly applied functional comparability and permissible adjustments under Section 92C of the Income Tax Act, 1961 and Rule 10B of the Income Tax Rules, 1962.

5 Dec 2014

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

High Court

Bombay High Court Dismisses Revenue Appeal in Income Tax Case on Interpretation of Explanation to Section 73 — Share Trading Loss Not Speculative Where Non-Speculative Income Exceeds Loss. The court held that gross total income for the exception includes all income chargeable under the Act, and if non-speculative income exceeds speculative loss, the exception applies.

2 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 (ITAT) which had u...

High Court

Bombay High Court Upholds Constitutional Validity of Section 50C of Income Tax Act, 1961 in Stamp Duty Dispute. Development Agreement Stamp Duty Based on Ready Reckoner Rate Upheld; Section 50C Not Ultra Vires.

15 Mar 2010

The petitioner, Bhatia Nagar Premises Cooperative Society Limited, is a cooperative society that owns land with a building. It entered into a Developm...

Supreme Court

Supreme Court Remands Income Tax Reference to High Court for Improper Conditional Disposal. High Court Erred by Basing Answers on Pending Appeals Instead of Determining Issues of Capital Gains and Dividend on Facts.

21 Aug 1969

The appeal arose from a reference under the Income-tax Act, 1922. The assessee, a shareholder of a company, had received distributions out of land acq...

High Court

Bombay High Court Dismisses Revenue Appeals in Income Tax Cases Involving Long-Term Capital Gains and Business Income Classification. Court upholds ITAT findings that gains from sale of agricultural land and shares were capital gains, not business income, under the Income Tax Act, 1961.

30 Nov -0001

The judgment involves a batch of income tax appeals filed by the Commissioner of Income Tax against various assessees, including Nitish Rameshchandra ...

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