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Supreme Court Allows Appeal in Income Tax Deduction Case for Accrued Development Liability. Deduction for Estimated Future Development Expenses Allowed Under Section 10(1) of Indian Income-tax Act, 1922, as Liability Was Accrued, Not Contingent.

The dispute concerned the income tax assessment of a land-developing company that followed the mercantile method of accounting. The appellant, Messrs....

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Supreme Court Allows Agent's Suit for Accounts Against Principal in Case Involving Promissory Note. Oral Agreement to Defer Enforcement of Promissory Note Until Accounting Held Provable as Condition Precedent Under Section 92 of Indian Evidence Act, 1872.

The litigation arose out of a dispute between an agent and his principals. The agent sued the principals for rendition of accounts for the period of h...

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Bombay High Court Quashes Detention Order Under MPDA Act for Lack of Subjective Satisfaction and Delayed Action. Preventive detention order set aside due to unexplained delay of four months and failure to supply legible translated documents.

The petitioner, Bandu Kathalu Gaikwad, challenged an order of detention dated 17.01.2023 passed by the District Magistrate, Beed under the Maharashtra...