Search Results for "reference under income-tax act"

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Search Results for "reference under income-tax act"

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Supreme Court

Supreme Court Dismisses Assessee's Appeal in Income Tax Block Assessment Case on Levy of Interest and Surcharge. Interest under Section 158BFA(1) of Income Tax Act, 1961 upheld for belated filing of block period return despite notice issued under Section 158BD prior to amendment, as provision inherently incorporates Section 158BC procedure.

13 Jan 2023

The Supreme Court addressed a group of appeals concerning the levy of interest under Section 158BFA(1) and surcharge under Section 113 of the Income T...

High Court

Bombay High Court Allows Deduction for Retrenchment Compensation Reimbursed by Assessee to Subsidiary Under Contractual Agreement. The court held that retrenchment compensation paid by the subsidiary and reimbursed by the assessee under a contractual agreement is allowable as business expenditure under Section 37(1) of the Income Tax Act, 1961, as it was incurred for commercial expediency and business reorganization.

26 Aug 2016

The case pertains to an Income Tax Reference under Section 256(1) of the Income Tax Act, 1961, for the Assessment Year 1980-81. The assessee, The Wall...

High Court

Bombay High Court Allows Writ Petition Seeking Interest on Refund of TDS Under Section 244A of Income Tax Act — Mandamus Issued for Payment of Interest on Delayed Refund. CBDT Communication Denying Interest Held Contrary to Statutory Provisions and Quashed.

19 Jan 2016

The petitioner, M/s. Sunflag Iron & Steel Co. Ltd., a public limited company engaged in steel manufacturing, entered into an agreement with a German c...

High Court

Bombay High Court Allows Second Appeal in MRTP Act Case — Notice Under Section 53(1) Challenged as Nullity for Shortfall in Statutory Period. Bar Under Section 149 of Maharashtra Regional and Town Planning Act, 1966 Does Not Apply When Notice Itself Is Invalid Due to Non-Compliance with Mandatory Period.

20 Jan 2015

The appellant, Kishor S/o Ramalu Telang, was the original plaintiff who received a notice dated 18.11.2010 under Section 53(1) of the Maharashtra Regi...

High Court

Bombay High Court Allows Second Appeal in MRTP Act Case — Notice Under Section 53(1) Challenged as Nullity for Shortfall in Statutory Period. Bar Under Section 149 of Maharashtra Regional and Town Planning Act, 1966 Does Not Apply When Notice Itself Is Invalid for Non-Compliance with Mandatory Period.

20 Jan 2015

The appellant, Kishor S/o Ramalu @ Rambhau Telang, was the original plaintiff who received a notice dated 18.11.2010 under Section 53(1) of the Mahara...

High Court

Bombay High Court Partially Allows Petition Challenging CBDT Condition of Applying 75% Income for Educational Purposes in India Under Section 10(23C)(vi) of Income Tax Act, 1961. Condition held valid but directed to be applied prospectively from assessment year 2010-2011, with stay on recovery of tax demands for earlier years subject to furnishing of security.

30 Jun 2010

The petitioner, American Hotel & Lodging Educational Institute, a non-profit organization established in the United States with a branch in India, cha...

High Court

Bombay High Court Dismisses Assessee's Appeal in Income Tax Revision Case — Commissioner Validly Invoked Section 263 for Non-Consideration of Seized Documents. The court held that the Assessing Officer's failure to consider seized 'Jama Kharch Panas' showing undisclosed turnover made the block assessment order erroneous and prejudicial to revenue.

26 Mar 2010

The appeal by the Assessee, M/s. Ranka Jewellers, under Section 260A of the Income Tax Act, 1961, challenged the order of the Income Tax Appellate Tri...

High Court

Bombay High Court Allows Revenue Appeal in Section 80HHC Deduction Case — Net Interest on Fixed Deposits Cannot Be Considered for Computing Export Profits Deduction. The court held that Explanation (baa) to Section 80HHC of the Income Tax Act, 1961 requires exclusion of ninety per cent of gross interest receipts, not net interest, as the provision does not allow set-off of interest paid against interest received.

19 Mar 2010

The case involves an appeal by the Revenue under Section 260A of the Income Tax Act, 1961, against the order of the Income Tax Appellate Tribunal (ITA...

High Court

Bombay High Court Allows Revenue Appeal in Section 80IA Deduction Case for Container Handling Cranes. Leasing of cranes to JNPT does not constitute developing, maintaining and operating an infrastructural facility under Section 80IA of the Income Tax Act, 1961.

15 Feb 2010

The case involves appeals filed by the Revenue under Section 260A of the Income Tax Act, 1961 against the order of the Income Tax Appellate Tribunal f...

Supreme Court

Supreme Court Upholds Revenue’s Assessment — Income from Sale of Naturally Grown Trees Not Agricultural Income. Assessee Must Prove Entitlement to Exemption Under Section 4(3)(viii) of Income-tax Act, 1922; Tribunal’s Finding of Fact Binding.

14 Oct 1958

The dispute concerned the taxability of income derived by the respondent, a proprietor of an estate, from the sale of trees in his forests. The respon...

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