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Supreme Court Dismisses Assessee's Appeal in Income Tax Deduction Case Under Section 43B Explanation 3C. Interest Converted into Debentures Not Deemed Actually Paid as Per Retrospective Amendment, Disallowing Deduction Under Income Tax Act, 1961.

The dispute arose from an appeal by M.M. Aqua Technologies Ltd. against the Commissioner of Income Tax, Delhi-III, concerning the interpretation of Se...

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Bombay High Court Allows Winding Up Petition Against Varun Global Limited for Non-Payment of Loan Debt. Life Insurance Corporation of India Succeeds in Proving Company's Inability to Pay Debts Under Sections 433(e) and 434 of the Companies Act, 1956.

The petitioner, Life Insurance Corporation of India (LIC), filed a company petition under Sections 433(e) and 434 of the Companies Act, 1956, seeking ...

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Bombay High Court Allows Appeal in Motor Accident Claim Case — Compensation Enhanced from Rs. 1,08,000 to Rs. 2,31,000. Multiplier of 16 applied for deceased aged 22 years, with 50% deduction for personal expenses and 50% addition for future prospects under Motor Vehicles Act, 1988.

The appeal arises from a judgment and order dated 5th May 1994 passed by the Motor Accidents Claims Tribunal, Nashik, partly rejecting the claim for c...