Search Results for "Income Tax Act interest"

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High Court

Bombay High Court Strikes Down LIC Circular Imposing Assignment Charge on Finance Organizations as Ultra Vires Section 38 of Insurance Act, 1938. The court held that LIC cannot impose a charge on assignments of life insurance policies in favor of finance companies as it amounts to a restriction on the statutory right of assignment under Section 38.

19 May 2010

The petitioners, Dravya Finance Pvt. Ltd. (a Non-Banking Finance Company) and its director Hasmukh Rawal, challenged a Circular dated 24.4.2006 issued...

High Court

Bombay High Court Dismisses Union of India's Petition Challenging CAT Order Quashing Charge Memo Due to Delay and Quasi-Judicial Functions. The Court Held That Disciplinary Proceedings Initiated After 8 Years for Acts Done in Discharge of Official Duties as Income Tax Officer Were Unjustified and Caused Prejudice to the Employee.

13 Feb 2013

The Union of India and others filed a writ petition under Articles 226 and 227 of the Constitution of India challenging an order of the Central Admini...

High Court

Gujarat High Court Partly Allows Insurance Company's Appeal, Reduces Interest Rate in Motor Accident Claim. Claimant's compensation of Rs.19,08,550 upheld but interest reduced from 9% to 7.5% per annum under Section 173 of Motor Vehicles Act, 1988.

17 Feb 2026

The case arises from a motor accident that occurred on 18.06.2011 when the claimant, a pedestrian, was hit by a tanker bearing registration No. GJ-6-V...

Supreme Court

Supreme Court Allows Appeal in Motor Vehicle Accident Claim, Restoring Compensation Based on Income Tax Returns. Income Tax Returns and Audit Reports Held Reliable Evidence for Determining Loss of Income Under Section 168 of Motor Vehicles Act, 1988, Overturning High Court's Use of Notional Income.

30 Sep 2022

The Supreme Court heard a civil appeal arising from a motor vehicle accident claim. The deceased, a businessman aged above 31 years, died in a collisi...

Supreme Court

Supreme Court Upholds Competition Commission's Power to Differ from DG Report and Penalty Principles Under Competition Act, 2002. Appeal Against COMPAT Order Partially Setting Aside Penalties and Behavioural Remedies Raises Interpretation of Sections 3, 27, and 48.

1 Jan 1970

The present statutory appeal under Section 53T of the Competition Act, 2002 was filed by the Competition Commission of India against the judgment and ...

High Court

Karnataka High Court Allows Revenue's Appeal in ITC Hotels TDS Case — Remittances to US Company for Marketing Services Held Subject to TDS Under Section 195 of Income Tax Act, 1961. The court held that the assessee was liable to deduct tax at source on payments to a non-resident for services rendered outside India, as the income was deemed to accrue or arise in India under Section 9(1)(i), and the principle of consistency did not bar the Revenue from taking a different view.

15 Jun 2015

The case involves appeals by the Commissioner of Income Tax and the Income Tax Officer (TDS) against the order of the Income Tax Appellate Tribunal (I...

High Court

High Court Adjudicates Appeal for Enhancement of Motor Accident Compensation — Loss of Income Assessment and Future Prospects Under Section 166 of the Motor Vehicles Act, 1988 Considered.

24 Jul 2020

This first appeal arises from the judgment and award dated 16.08.2004 passed by the Motor Accident Claims Tribunal, Ahmednagar in MACP No.822/2000, wh...

High Court

Bombay High Court Allows Revision Petition Under Section 264 of Income Tax Act, 1961 for Non-Grant of Indexed Cost of Improvement in Capital Gains Computation. The Principal Commissioner's rejection of the revision application was set aside as the claim for indexed cost of renovation expenses incurred in 1990 was a lawful claim that ought to have been considered.

13 Oct 2023

The petitioner, an individual resident, filed his return of income for Assessment Year 2007-08 on 21 August 2007 declaring total income of Rs.8,49,118...

High Court

Bombay High Court Upholds Tribunal's Deletion of Penalty in Sales Tax Case — Revenue Must Prove Gross Neglect. The onus lies on the revenue to establish gross or willful neglect under Explanation I to Section 36(2)(c) of Bombay Sales Tax Act, 1959, and the Tribunal correctly deleted the penalty relying on Indoswe Engineers (P) Ltd.

26 Feb 2015

The case is a Sales Tax Reference under Section 61 of the Bombay Sales Tax Act, 1959, arising from a dispute between the Commissioner of Sales Tax, Ma...

High Court

High Court of Bombay at Goa Allows Tax Appeals of Assessee in Income Tax Matters — Disallowance of Expenditure on Technical Know-How and Interest on Delayed Payment of Sales Tax Set Aside. The court held that technical know-how fees for improvement of existing process is revenue expenditure and interest on delayed sales tax is compensatory, both allowable under Section 37(1) of the Income Tax Act, 1961.

30 Nov -0001

The judgment pertains to a batch of tax appeals filed by Goa Carbon Ltd. against orders of the Income Tax Appellate Tribunal (ITAT) for various assess...

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