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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.

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...

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Bombay High Court Confirms Eviction of Licensee in Landmark Tenancy Case. Interpretation of Section 15A of the Bombay Rent Act Clarified: Shared Licenses Do Not Confer Tenancy Rights.

The Bombay High Court dismissed the writ petition filed by Petitioners, legal heir of the original defendant, confirming the eviction order passed by ...

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High Court of Bombay Examines Jurisdictional Challenge to Transfer Pricing Adjustment on Equity Share Issuance. Whether Alleged Shortfall in Premium Constitutes Income from International Transaction Under Chapter X of Income Tax Act, 1961.

Vodafone India Services Pvt. Ltd. (the Petitioner), a wholly owned subsidiary of a non-resident holding company, required funds for its telecommunicat...

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Bombay High Court Hears Writ Petition Challenging Taxation of Alleged Shortfall in Share Premium Under Transfer Pricing Provisions. The Dispute Centers on Whether Chapter X of the Income Tax Act, 1961 Can Apply When No Actual Income Arises from the International Transaction.

The petitioner, Vodafone India Services Pvt. Ltd., a wholly owned subsidiary of a non-resident holding company, issued 2,89,224 equity shares at a pre...

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Supreme Court Dismisses Appeal in Market Committee Licence Dispute Over Auction Platform Allotment. Allotment of auction platform adjacent to shop not linked to shop ownership or licence under specific rules, and market committee's policy-based discretion upheld.

The dispute arose from the allotment of an auction platform in the Agricultural Produce Market, Chandigarh, involving the appellant, owner and licence...