Search Results for "future income taxable"

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Bombay High Court Allows Appeals by Acquiring Body in Land Acquisition Compensat...
Bombay High Court Dismisses NHAI Appeals in Land Acquisition Compensation Disput...
Bombay High Court Dismisses Writ Petition Challenging Concurrent Findings in Sui...
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Search Results for "future income taxable"

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High Court

Bombay High Court Enhances Compensation in Motor Accident Claim Case — Tribunal's Award Modified for Loss of Dependency and Consortium. Deceased was a medical professional earning Rs.1,50,000 per month; court applied multiplier of 15 and added 50% future prospects, granting total compensation of Rs.2,40,45,753/-.

28 Mar 2024

The case arises from a motor accident claim filed by the legal heirs of the deceased, Dr. Sunil Shankar Patil's wife, who died in a road accident on 3...

High Court

Bombay High Court Allows Appeal for Enhancement of Compensation in Motor Accident Claim — Deceased Senior Manager Entitled to 50% Future Prospects and Correct Multiplier. Tribunal's errors in applying multiplier of 14 instead of 13 and deducting 1/3rd for personal expenses instead of 1/4th corrected, resulting in enhanced compensation of Rs.2,52,02,474/-.

18 Nov 2022

This First Appeal was filed by the original claimants, being the heirs and legal representatives of Vilas Ramkumar Deshpande (the deceased), who died ...

High Court

Bombay High Court Allows Writ Petition in Income Tax Case - Capital Gains Arising from Escrow Amount Taxable in Year of Receipt, Not in Year of Transfer. The court held that the right to receive the escrow amount was contingent on indemnity claims, and therefore, the income accrued only in the year when the contingency was resolved and the amount was actually received, not in the year of share transfer.

8 Apr 2022

The petitioner, Dinesh Vazirani, an individual resident of India, along with other promoters, held shares in WMI Cranes Ltd. They entered into a Share...

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

Bombay High Court Allows Appeal in Motor Accident Claim Case Due to Error in Multiplier Application — Compensation Enhanced. The Court corrected the multiplier from 12 to 13 based on the deceased's age of 45 years under Section 166 of the Motor Vehicles Act, 1988, and enhanced interest rate to 7.5% per annum.

26 Feb 2022

The appellants, legal heirs of the deceased Arunkumar Pandya, filed a claim petition under Section 166 of the Motor Vehicles Act, 1988, seeking compen...

High Court

High Court of Karnataka Enhances Compensation in Motor Accident Claim for Death of 45-Year-Old Businessman. Tribunal's deduction of 30% towards income tax held erroneous; multiplier of 14 applied on notional income of Rs. 6,000 per month with 50% future prospects.

16 Apr 2018

The appeal arises from a judgment dated 7-7-2015 passed by the Senior Civil Judge and Additional MACT at Basavakalyan in MVC No.154/2014. The appellan...

High Court

High Court of Bombay at Aurangabad Allows MSRTC Appeal in Motor Accident Claim — Reduces Compensation by Disallowing 50% Future Prospects for Self-Employed Deceased. The Court held that for self-employed persons, addition towards future prospects is not permissible under settled law, modifying the award from Rs. 9,50,000 to Rs. 6,50,000.

28 Jul 2017

The Maharashtra State Road Transport Corporation (MSRTC) appealed against the judgment and order dated 11.04.2016 passed by the Motor Accident Claims ...

Supreme Court

Supreme Court Allows Appeal in Income Tax Deduction Case for Accrued Development Liability. Deduction for Estimated Future Development Expenses Allowed Under Section 10(1) of Indian Income-tax Act, 1922, as Liability Was Accrued, Not Contingent.

12 May 1959

The dispute concerned the income tax assessment of a land-developing company that followed the mercantile method of accounting. The appellant, Messrs....

Supreme Court

Supreme Court Upholds Workmen's Bonus Award by Limiting Depreciation Deduction in Surplus Calculation. Depreciation Admissible Under Income-tax Act Cannot Be Fully Claimed as Prior Charge; Abnormal Additions Like Initial and Additional Depreciation Not Fair to Workmen.

5 Nov 1957

The case arose from an industrial dispute between Sree Meenakshi Mills Ltd. and their workmen concerning payment of bonus for the year 1950–51. The ...

High Court

Bombay High Court Dismisses Revenue Appeals in Cooperative Sugar Factory Tax Cases — Cane Price Subsidy Not Taxable as Revenue Receipt. Subsidy paid by State Government to sugar factories for sugarcane price differential is a capital receipt not liable to income tax under Section 4 of the Income Tax Act, 1961.

30 Nov -0001

The case involves multiple tax appeals filed by the Commissioner of Income Tax, Pune, against various cooperative sugar factories in Ahmednagar distri...

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