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Supreme Court Upholds Tax Authorities in Income Tax Case Regarding Refund of Excess Profits Tax. Repayment of excess profits tax received by a company in England deemed income under Section 11(14) of Indian Finance Act, 1946, irrespective of territorial source.

The appellant, McGregor & Balfour Ltd., a company incorporated in the United Kingdom with its head office there, also carried on business in India. In...

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High Court of Bombay at Goa Adjudicates Tax Appeals on Wealth Tax Assessment of Coastal Property. Interpretation of Section 2(ea)(v) of the Wealth Tax Act, 1957, Regarding Exclusion of Non-Buildable Land Under CRZ Regulations.

The appeals arose from a common order dated 13 February 2004 of the Income Tax Appellate Tribunal, Panaji, concerning wealth tax assessments of severa...