Search Results for "business income incidental"

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Search Results for "business income incidental"

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High Court

Madras High Court Allows Appeal in Income Tax Case — Advances Written Off as Business Loss Under Section 37(1) Allowed Despite Bad Debt Claim Under Section 36(1)(vii) Being Time-Barred. Court holds that advances given in the course of construction business which become irrecoverable and written off in books of account are allowable as business loss under Section 37(1) of the Income Tax Act, 1961, even if the claim under Section 36(1)(vii) fails due to non-compliance with Section 36(2).

22 Jan 2026

The appellant, M/s. Deccan Estates, a builder, entered into a joint venture agreement on 10.12.1995 with landowners for development of a property name...

High Court

Madras High Court Allows Appeal in Income Tax Case — Advances Written Off as Business Loss Under Section 37(1) of Income Tax Act, 1961. Court holds that advances given in the course of construction business, which become irrecoverable and written off, are allowable as business loss even if not claimed as bad debt under Section 36(1)(vii).

22 Jan 2026

The appellant, M/s. Deccan Estates, a builder, entered into a joint venture agreement on 10.12.1995 with landowners for development of a property name...

Supreme Court

Supreme Court Allows Appeal in Income Tax Deduction Case for Pharmaceutical Freebies. Expenses on Gifting Freebies to Medical Practitioners Are Deductible Under Section 37(1) of Income Tax Act, 1961, as Indian Medical Council Regulations Only Prohibit Acceptance, Not Gifting, Under Explanation 1.

22 Feb 2022

The dispute involved a pharmaceutical company, referred to as Apex, appealing against a High Court judgment that upheld orders disallowing part of its...

High Court

High Court of Karnataka Allows TPA's Appeal in TDS Dispute — Payments to Hospitals Not Subject to TDS Under Section 194J of Income Tax Act, 1961. Third Party Administrator (TPA) acting as a conduit between insurer and hospitals does not make 'professional services' payment to hospitals, hence no obligation to deduct tax at source.

12 Oct 2020

The appellant, TTK Healthcare TPA Private Limited, a Third Party Administrator (TPA), filed an appeal under Section 260A of the Income Tax Act, 1961 a...

High Court

Bombay High Court Dismisses Revenue's Appeal in Income Tax Case — Marhatta Chamber of Commerce Held Eligible for Section 11 Exemption Despite Business Income. Trust's incidental business activity does not forfeit exemption under sections 11 and 12 of the Income Tax Act, 1961.

11 Jan 2019

The case involves an appeal by the Commissioner of Income Tax (Exemptions) against the order of the Income Tax Appellate Tribunal (ITAT), Pune Bench, ...

High Court

Bombay High Court Allows Appeal in Motor Accident Claim — Enhances Compensation for Death of Apprentice Steward. Future Prospects and Correct Multiplier Applied Under Motor Vehicles Act, 1988.

13 Jul 2017

The appellant, Vincentina Paulina D'Souza, filed a claim petition before the Motor Accident Claims Tribunal (MACT) at Goa seeking compensation for the...

High Court

Bombay High Court Rules Share Issue Expenses to Dilute Foreign Equity as Capital Expenditure Under Income Tax Act, 1961. Interest on Share Application Money Cannot Be Adjusted Against Such Capital Expenditure.

8 Sep 2016

The case involves an Income Tax Reference under Section 256(1) of the Income Tax Act, 1961, by the Income Tax Appellate Tribunal (Tribunal) at the ins...

High Court

Bombay High Court Allows Deduction for Retrenchment Compensation Reimbursed by Assessee to Subsidiary Under Contractual Agreement. The court held that retrenchment compensation paid by the subsidiary and reimbursed by the assessee under a contractual agreement is allowable as business expenditure under Section 37(1) of the Income Tax Act, 1961, as it was incurred for commercial expediency and business reorganization.

26 Aug 2016

The case pertains to an Income Tax Reference under Section 256(1) of the Income Tax Act, 1961, for the Assessment Year 1980-81. The assessee, The Wall...

High Court

Bombay High Court Dismisses Revenue's Appeal in Income Tax Case — Trust's Rental Income from Educational Property Not Business Under Section 11(4A) of Income Tax Act, 1961. Letting out premises to educational institutions for advancement of education is a charitable activity, not a business, and does not attract Section 11(4A).

13 Apr 2016

The case involves an appeal by the revenue under Section 260A of the Income Tax Act, 1961 against an order of the Income Tax Appellate Tribunal (ITAT)...

High Court

Bombay High Court Dismisses Writ Petition and Tax Appeals in Income Tax Reassessment and Expenditure Disallowance Cases. Reassessment notices under Section 147 of the Income Tax Act, 1961 were valid, and expenditure on renovation and interest on borrowed capital for acquiring a capital asset were not allowable deductions.

30 Nov -0001

The judgment involves a batch of petitions and appeals arising from income tax proceedings concerning the Travel & Tourism Association of Goa and seve...

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