Search Results for "Trust taxation"

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Supreme Court Clarifies Deduction of Broken Period Interest for Banks Treating Securities as Stock-in-TradeDeduction Allowed as Revenue Expenditure for Banks Holding Securities as Stock-in-Trade

The Supreme Court addressed the treatment of broken period interest for tax purposes. The issue centered on whether broken period interest could be de...

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High Court of Karnataka Quashes CIC Order Holding Deemed University Not a 'Public Authority' Under RTI Act — Right to Information Act, 2005 Not Applicable to Deemed Universities Established Under UGC Act, 1956

The petitioner, Manipal University, a deemed university declared under Section 3 of the University Grants Commission Act, 1956, challenged an order da...

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Bombay High Court Allows Revenue Appeal in Part on Mutuality Principle for Effluent Treatment Association. Interest on Bank Deposits Held Taxable as Income from Investments, Not Covered by Mutuality.

The case involves an appeal by the Revenue under Section 260A of the Income Tax Act, 1961 against a decision of the Income Tax Appellate Tribunal for ...