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Bombay High Court Dismisses Section 34 Challenge to Arbitral Award in Partnership Dispute — Upholds Award of Rs. 7.39 Crore with Interest. Limitation plea rejected as claim was within time; quantification not perverse.

The judgment concerns a Commercial Arbitration Petition under Section 34 of the Arbitration and Conciliation Act, 1996, challenging an arbitral award ...

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High Court of Karnataka Dismisses LIC's Appeal in Service Tax Case for Non-Prosecution. Writ Appeal Filed Under Section 4 of Karnataka High Court Act, 1961 Dismissed as Appellants Failed to Appear.

The present writ appeal was filed by the appellants, Life Insurance Corporation of India (LIC), challenging the order dated 18.04.2023 passed by the l...

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Bombay High Court Dismisses Housing Society's Petition Challenging Refund Order in Cooperative Dispute. Society's Demand of Rs.5,00,000 for Transfer Regularization Held Unjustified and Directed to Refund Rs.4,75,000 with Interest.

The petitioner, Alankar Sahkari Griha Rachana Sanstha Maryadit, a housing society, challenged the order dated 12th December, 2013 passed by the Mahara...

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Karnataka High Court Quashes Penalty Orders in KVAT Act Case for Lack of Jurisdiction and Violation of Natural Justice. Penalty under Section 53(8) of KVAT Act cannot be imposed without assessment and opportunity of hearing.

The petitioner, M/s B.L. Kashyap & Sons Ltd., a company engaged in civil works contracts, challenged orders dated 8.9.2017 passed by the Joint Commiss...

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High Court of Karnataka Dismisses Revenue's Appeal in Income Tax Case — Upholds ITAT Order on Disallowance of Interest and Depreciation. Assessee's claim for deduction under Section 80-IA allowed as substantial question of law not raised.

The case involves two cross appeals: ITA No.884/2007 filed by the Revenue (Commissioner of Income Tax and Income Tax Officer) and ITA No.60/2015 filed...

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Supreme Court Dismisses Assessee's Claim to Treat Compensation as Capital Receipt Under Income Tax Act. Lump sum payment received by managing agent for reduction in remuneration held to be revenue receipt as it was in lieu of future profits and not for loss of managing agency.

The assessee firm, M/s. Godrej & Company, was appointed managing agent of a limited company for thirty years from November 9, 1933, under an agreement...