Search Results for "Indian Income Tax Act 1922"

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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.

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...

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Bombay High Court Rules in Favor of Insurance Corporation on Deduction of Bad Debt Reserve. Held That Crediting Reserve for Doubtful Debts Constitutes Write-Off Under Section 36(1)(vii) of Income Tax Act, 1961, and Rule 5(a) of First Schedule Does Not Apply.

In this appeal before the Bombay High Court, the assessee, a general insurance corporation, challenged the Income Tax Appellate Tribunal's decision re...

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High Court of Karnataka considers power of Income Tax Appellate Tribunal to direct fresh enquiry under Section 254 of Income Tax Act, 1961 in a buy-back taxation case. The court formulates the substantial question of law regarding suo motu directions leading to potential enhancement of tax liability.

The appeal before the High Court of Karnataka arose from an order of the Income Tax Appellate Tribunal (ITAT) concerning the tax treatment of a buy-ba...

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Bombay High Court Dismisses Revenue's Appeal on Allocation of Expenses in Section 80IB Deduction Case. Tribunal's Remand Upheld as Earlier Decision Not Challenged; Questions on Separate Unit Status and Depreciation Adjustment Admitted.

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 dated ...

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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.

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

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High Court of Bombay Examines Jurisdictional Challenge to Transfer Pricing Adjustment on Equity Share Issuance. Whether Alleged Shortfall in Premium Constitutes Income from International Transaction Under Chapter X of Income Tax Act, 1961.

Vodafone India Services Pvt. Ltd. (the Petitioner), a wholly owned subsidiary of a non-resident holding company, required funds for its telecommunicat...

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Supreme Court Upholds Assessee's Right to Carry Forward Loss as Vocation Income Under Income-tax Act, 1922. Hold that Decision on Loss in Previous Year Not Binding on Subsequent Year's Officer Under Section 24(2).

The assessee, Manmohandas, was appointed as Treasurer of a Bank in respect of certain branches, sub-agencies, and pay offices. During the previous yea...