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High Court of Karnataka Dismisses Revenue's Appeal in Income Tax Case — Tribunal's Deletion of Rental Income Addition Upheld. Rental income from property held as stock-in-trade is assessable under 'Income from House Property' and not 'Business Income' as per Section 22 of the Income Tax Act, 1961.

The present appeal was filed by the Revenue under Section 260-A of the Income Tax Act, 1961, against the order dated 27.02.2015 passed by the Income T...

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Bombay High Court Dismisses Petition by Cooperative Housing Society Challenging Deemed Membership of Nominee. Nominee of Deceased Member Entitled to Membership Without Transfer of Shares Under Section 30 of Maharashtra Cooperative Societies Act, 1960.

The case involves a dispute between Maker Tower 'H' Co-operative Housing Society Ltd. (petitioner) and Smt. Leena N. Parekh (respondent no.1) regardin...

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Supreme Court Hears Civil Appeals Concerning Applicability of Interest on Delayed Payments Act to Prior Contracts. The appeals arise from a common question of law regarding the retrospective application of the Interest on Delayed Payment to Small Scale and Ancillary Industrial Undertakings Act, 1993.

The appeals before the Supreme Court arose from a common question of law regarding the applicability of the Interest on Delayed Payment to Small Scale...

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High Court Considers Maintainability and Exemption Issue in Writ Petition Against Tax Demand on Alleged Non-Export Sale. Interprets Section 5(3) of CST Act Regarding Penultimate Sale Deemed Export.

The petitioner, a manufacturer of submarine navy batteries, challenged orders demanding sales tax under the Bombay Sales Tax Act, 1959 on the ground t...

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Bombay High Court Dismisses Petition of Cooperative Housing Society Challenging Deemed Membership of Assignee. Transfer of Leasehold Interest Valid Under Maharashtra Cooperative Societies Act, 1960, Sections 22, 23, 24.

The petitioner, The New India Cooperative Housing Society Ltd., challenged concurrent orders of the Divisional Joint Registrar and Deputy Registrar un...

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Bombay High Court Allows Petition for Interest on Delayed Retiral Benefits to Exonerated Employee — Rule 55A(7) of Pension Rules, 1953 Deems Payment Due from Retirement Date, Not Exoneration Date, and Interest Is Payable Without Proving Administrative Lapse.

The petitioner, Narayan Pundalik Pathade, a retired employee of the Municipal Corporation of Greater Mumbai (MCGM), filed a writ petition under Articl...