Search Results for "revenue loss"

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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...
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Search Results for "revenue loss"

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High Court

High Court of Karnataka Dismisses Revenue's Appeal in Income Tax Case — Tribunal Correctly Held Commissioner Not Justified Under Section 263 for Alleged Double Deduction of Excise Duty. Assessing Officer Followed Permissible View and Assessee Did Not Claim Deduction Twice.

16 Jun 2016

The present appeal was filed by the Revenue under Section 260-A of the Income Tax Act, 1961, against the order of the Income Tax Appellate Tribunal (I...

High Court

Bombay High Court Allows Revenue's Appeal in Rental Income Classification Case. Rental income from leasing unsold units of a commercial complex constructed by a real estate developer is assessable as business income, not income from house property.

9 Apr 2015

The case involves multiple appeals filed by the Commissioner of Income Tax against the common order of the Income Tax Appellate Tribunal (ITAT) which ...

Supreme Court

Supreme Court Allows Revenue's Appeal in Income Tax Case on Bonus Shares - Averaging Original Cost Over All Shares. When Bonus Shares Rank Pari Passu, the Correct Method to Compute Profit or Loss is to Spread the Cost of Original Shares Over Both Original and Bonus Shares.

3 Apr 1969

This case involved the method of computing profit or loss on the sale of bonus shares in the hands of a dealer in shares. The respondent, Gold Mohore ...

High Court

High Court of Karnataka Dismisses Revenue's Appeal in Income Tax Case — Regional Rural Bank Entitled to Deduction Under Section 36(1)(viia) on Provision for Bad and Doubtful Debts. The court held that the provision for bad and doubtful debts made by the assessee-bank in accordance with RBI guidelines is allowable as a deduction under Section 36(1)(viia) of the Income Tax Act, 1961, and that the Assessing Officer cannot recompute the provision based on a different percentage.

14 Dec 2015

The case involves two appeals filed by the Revenue under Section 260A of the Income Tax Act, 1961, challenging a common order dated 28.11.2013 passed ...

Supreme Court

Supreme Court Allows Appeal Against High Court's Interim Stay on Liquor Shop License, Dismisses Writ Petition as Frivolous with Costs. Non-Participant in Resettlement Process Lacks Locus Standi to Challenge Allotment on Ground of Loss of Revenue When Recovery Proceedings Ensure No Actual Loss.

26 Oct 2020

The case pertains to the allotment of a foreign liquor shop license at Pithoragarh, Uttarakhand. Initially, the license was allotted to Sh. Balkar Sin...

High Court

Bombay High Court Dismisses Revenue Appeal in Income Tax Case on Interpretation of Explanation to Section 73 — Share Trading Loss Not Speculative Where Non-Speculative Income Exceeds Loss. The court held that gross total income for the exception includes all income chargeable under the Act, and if non-speculative income exceeds speculative loss, the exception applies.

2 Feb 2012

The appeal by the Revenue under Section 260A of the Income Tax Act, 1961, challenged the order of the Income Tax Appellate Tribunal (ITAT) which had u...

High Court

Bombay High Court Allows Revenue Appeal in Income Tax Case on Computation of Deduction Under Section 80HHC for Book Profits Under Section 115JB. The court held that the deduction under Section 80HHC for computing book profits under Section 115JB must be quantified with reference to the profits as per accounts adjusted under Section 115JB, not the normal computation under Chapter IV-D.

9 Jul 2010

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

Supreme Court

Supreme Court Dismisses Appeal Against Sale of Sugar Company's Immovable Property for Recovery of Dues as Arrears of Land Revenue under U.P. Zamindari Abolition & Land Reforms Act. The Court held that restrictions under s.279 do not apply when recovering dues under other statutes as arrears of land revenue; the Collector need not exhaust processes against movables before selling immovable property.

31 Jan 1969

This civil appeal arose from the dismissal of a writ petition challenging the sale of immovable property of a sugar company to recover statutory dues....

High Court

Bombay High Court Dismisses Revenue's Appeal in Software Development Expenditure Case. Expenditure on Development of New Products Held Revenue Expenditure as Incurred to Maintain Existing Business.

2 Dec 2022

The case involves two appeals filed by the Pr. Commissioner of Income Tax-5 under section 260A of the Income Tax Act, 1961, against the order of the I...

High Court

High Court Dismisses Revenue's Appeal in Carbon Credit Deduction Case — Income from Sale of Carbon Credits Held Not Derived from Eligible Business Under Section 80IA of Income Tax Act, 1961. The court upheld the Tribunal's decision quashing the revision order under Section 263, finding no substantial question of law.

29 Mar 2016

The appellant, Commissioner of Income Tax-III, Bangalore, filed an appeal under Section 260-A of the Income Tax Act, 1961, against the order of the In...

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