Search Results for "business income incidental"

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Bombay High Court Issues Notice in Service Matter Challenging Deletion of Names ...
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High Court of Karnataka Allows Revision Petition in Private Complaint Case — T...
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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) 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 under Section 37(1) 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 project named...

Supreme Court

Supreme Court Allows Appeals by States of Karnataka and Kerala in Lottery Tax Dispute — State Legislatures Have Competence to Tax Lotteries Under Entry 62 List II. Regulatory Entry 40 List I Does Not Bar State Taxation of Lotteries Organised by Other States.

23 Mar 2022

The Supreme Court considered appeals by the States of Karnataka and Kerala against judgments of their respective High Courts which had struck down sta...

High Court

High Court of Karnataka Quashes Withdrawal of Exemption Under Section 10(23C)(vi) of Income Tax Act for Educational Trust — Violation of Natural Justice. Order passed without providing opportunity of hearing and without considering objections violates principles of natural justice and Section 10(23C)(vi) of the Income Tax Act, 1961.

5 Feb 2018

The petitioners, M/s. Navodaya Education Trust and its trustees, filed writ petitions under Article 226 of the Constitution of India challenging an or...

High Court

High Court of Karnataka Enhances Compensation for Injured Claimants in Motor Vehicle Accident Case — Apportionment of Liability Between Owner and Insurer Upheld. Claimants awarded enhanced compensation for injuries sustained in a road accident under Section 173(1) of the Motor Vehicles Act, 1988.

1 Sep 2017

The case involves multiple miscellaneous first appeals filed under Section 173(1) of the Motor Vehicles Act, 1988, against the judgment and award date...

High Court

High Court of Karnataka Dismisses Revenue's Appeal in Income Tax Case — Interest on Government Grants Held as Additional Grant, Not Taxable Income. Interest earned on grants kept in fixed deposits pending utilization is not income from other sources but part of the grant itself.

10 Apr 2015

The Revenue (Commissioner of Income Tax and Assistant Commissioner of Income Tax) appealed against the order of the Income Tax Appellate Tribunal (ITA...

High Court

Bombay High Court Upholds Capital Gains Treatment for Land Sale by Estate Administrator — Assessee Not a Trader in Land. Surplus from sale of inherited land held as capital gain, not business income, under Income Tax Act, 1961.

24 Apr 2012

The case involved a reference under Section 256(1) of the Income Tax Act, 1961, at the instance of the Revenue, challenging the Tribunal's decision th...

High Court

Bombay High Court Partially Allows Challenge to SAFEMA Forfeiture Order — Agricultural Land Acquired Prior to Detention Exempt from Forfeiture. Property acquired before the 'illegal' period under Section 2(2)(b) of SAFEMA cannot be forfeited; appellate authority's order partly confirmed.

27 Feb 2012

The petitioner, Ranchhodbhai Bhagwanbhai Tandel (since deceased, through his legal heir Naresh Ranchhodbhai Tandel), filed a criminal writ petition un...

High Court

Bombay High Court Allows Assessees in Income Tax Reference Regarding Gold Bonds Profit as Capital Gain. Profit from sale of National Defence Gold Bonds held not taxable as business income under Income Tax Act, 1961, as transaction was not an adventure in the nature of trade.

13 Oct 2005

The case involves three income tax references arising from a common order of the Income Tax Appellate Tribunal, Mumbai, for the assessment year 1980-8...

High Court

Bombay High Court Upholds Tribunal's Decision Allowing Interest Deduction Under Section 36(1)(iii) for Dealer in Shares. Interest on Borrowed Funds for Investment in Shares Held as Stock-in-Trade is Business Expenditure, Not to be Reduced from Dividend Income Under Section 57(iii) of Income Tax Act, 1961.

30 Sep 2005

This is a reference under Section 256(1) of the Income Tax Act, 1961, at the instance of the Revenue, arising from the order of the Income Tax Appella...

High Court

Bombay High Court Upholds Tax Liability on Sale of Discarded Materials by BEST Undertaking Under Bombay Sales Tax Act, 1959. Court holds that sale of scrap from non-dealer activity is taxable under section 22(5A) and that appeal under section 55(6)(c) is maintainable only on questions of law.

12 Apr 2005

The case involves two references under Section 61 of the Bombay Sales Tax Act, 1959, arising from a common order of the Maharashtra Sales Tax Tribunal...

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