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Madras High Court Dismisses Revenue's Appeal in Capital Gains vs Business Profits Dispute. Profit on Sale of Land Held as Capital Gains Where Assessee Not in Property Development Business.

The case involves an appeal by the Commissioner of Income Tax against an order of the Income Tax Appellate Tribunal for assessment year 2004-05. The a...

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Bombay High Court Allows Widow's Claim for Family Pension Despite Husband's Resignation — Resignation Does Not Forfeit Family Pension Under BSNL Pension Rules, 2007. Family pension is a separate benefit not affected by Rule 44(2) forfeiture clause.

The petitioner, Kalpana Bachhav, is the widow of Vinayak Tryambak Bachhav, who was employed as a T.M. (Telecom Mechanic) with Bharat Sanchar Nigam Lim...

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High Court of Gujarat Dismisses/Allows Appeal in Motor Accident Claim—Decision Not Captured. Composite Negligence and Quantum of Compensation Under Section 166 of the Motor Vehicles Act, 1988 Were the Key Issues.

The matter involves an appeal and cross-objections arising from the judgment and award dated 14th August 2020 passed by the Motor Accident Claim Tribu...

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Supreme Court Upholds Enhanced Compensation in Motor Accident Claim — Ex Gratia Payment Not Deductible. High Court's award of Rs. 48,00,000 with 7.5% interest held just; no interference required.

The case arises from a vehicular accident on 30.12.1995 where Shri Rajpal Singh Johal died after an oil tanker rammed into his car. Two claim petition...

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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.

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

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Bombay High Court Allows Trust's Writ Petition Challenging Denial of Exemption Under Section 10(23C)(vi) of Income Tax Act, 1961. Educational Trust Running American School of Bombay Held Eligible for Exemption Despite Being a Foreign Educational Institution.

The petitioners, trustees of the American School of Bombay Education Trust, filed a writ petition challenging the order of the Director General of Inc...

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Bombay High Court Allows Depreciation on Original Cost in Amalgamation Case Under Rule 10 of Income Tax Rules. Notional Depreciation to Non-Resident Parent Does Not Reduce Written Down Value for Successor Company.

The case involves an Income Tax Reference under section 256(1) of the Income Tax Act, 1961, arising from the assessment years 1976-77, 1977-78, and 19...