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Bombay High Court Allows Assessee's Reference in Income Tax Case - Interest on Sticky Loans Not Taxable on Accrual Basis. Interest Credited to Suspense Accounts by Financial Corporation Does Not Accrue as Income Under Income Tax Act, 1961 Until Actually Realized.

The case involved a reference under section 256(1) of the Income Tax Act, 1961, at the instance of the assessee, Maharashtra State Financial Corporati...

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Bombay High Court Allows University's Appeal, Upholds Termination of Employee for Suppression of Criminal Antecedents. Non-Disclosure of Pending Criminal Case in Attestation Form Constitutes Suppression of Material Facts Justifying Termination of Probationary Employee.

The present appeal arises from the judgment and order dated 9-10-2003 passed by the learned single Judge in Writ Petition No.7330 of 2002, whereby the...

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Bombay High Court Dismisses Income Tax Appeal, Upholds Tribunal's Deletion of Addition for Education Fund and Remand for College Fund. Contributions to Education Fund Under Section 68 of Maharashtra Co-operative Societies Act Deemed Not Income; College Fund Issue Remanded to Determine Factual Basis.

The appeal before the Bombay High Court was filed by the Revenue under Section 260A of the Income Tax Act, 1961, challenging the order of the Income T...

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Bombay High Court Dismisses Petition Challenging Arbitral Award in Co-operative Bank Loan Dispute. Court upholds award holding borrowers jointly and severally liable for Rs.9.88 crore with interest under Section 34 of Arbitration and Conciliation Act, 1996.

The petitioners, Abid & Company Steels Private Limited and its directors, filed a petition under Section 34 of the Arbitration and Conciliation Act, 1...

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Bombay High Court Dismisses Petition Challenging MRT Order Rejecting Condonation of Delay in Tenancy Appeal. Delay of 30 Years in Filing Appeal Not Condoned as No Sufficient Cause Shown Under Section 5 of Limitation Act, 1963.

The petitioners, legal heirs of deceased original tenants, challenged the judgment and order dated 12/11/2021 passed by the Maharashtra Revenue Tribun...

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Bombay High Court Upholds Classification of Hard-Anodised Utensils Under Residual Entry in Sales Tax Reference. Hard-Anodised Utensils Held Not Classifiable as Aluminium Utensils Under Entry C-II-17 of Schedule E of Bombay Sales Tax Act, 1959, But Under Residual Entry C-II-46A.

The case involves two Sales Tax References under Section 61 of the Bombay Sales Tax Act, 1959, at the instance of Meera Metal Industries (the applican...

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The two writ petitions filed by Reliance Jio Infocomm Ltd challenged the vires of Rule 39(1)(a) of the Central Goods and Services Tax Rules, 2017 and ...