Search Results for "Section 80M"

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Bombay High Court Upholds Tribunal's Decision Allowing Interest Deduction Under Section 36(1)(iii) for Dealer in Shares. Interest on Borrowed Funds for Investment in Shares Held as Stock-in-Trade is Business Expenditure, Not to be Reduced from Dividend Income Under Section 57(iii) of Income Tax Act, 1961.

This is a reference under Section 256(1) of the Income Tax Act, 1961, at the instance of the Revenue, arising from the order of the Income Tax Appella...

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Supreme Court Rejects Recusal Plea in Land Acquisition Reference. Judge Who Decided Smaller Bench Can Sit in Larger Bench to Reconsider Same Issue as Bias Plea Based on Extrajudicial Factors.

This order arises from a reference to a five-judge Constitution Bench of the Supreme Court of India concerning the interpretation of Section 24 of the...

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Madras High Court Dismisses Revenue's Appeals in Insurance Company Tax Case — Upholds ITAT Order on Disallowance of Claims and Deductions. The court held that the assessee's method of accounting for outstanding claims and the deduction under Section 80M were correctly allowed by the Tribunal.

The case involves a batch of appeals filed by the Principal Commissioner of Income Tax, Chennai, under Section 260A of the Income Tax Act, 1961, again...

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Supreme Court Dismisses Revenue's Appeal in Income Tax Deduction Case Under Section 80-IA. Deduction Under Section 80-IA of Income Tax Act, 1961 is Allowed Against Gross Total Income, Not Restricted to Business Income Only, Based on Interpretation of Sections 80AB and 80-IA(5).

The dispute arose from the assessment year 2002-03 involving the Commissioner of Income Tax as appellant and M/s. Reliance Energy Ltd. as respondent. ...

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Supreme Court Allows Deduction Under Section 80HH on Gross Profits Without Deducting Depreciation and Investment Allowance. The Court Overruled Motilal Pesticides and Held That Section 80HH Deduction Is Computed on 'Profits and Gains' Not 'Income'.

The Supreme Court considered a batch of civil appeals concerning the interpretation of Section 80HH of the Income Tax Act, 1961, for the Assessment Ye...

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High Court Dismisses Petitions Against Railway Eviction Notices -- Residents of Malad Fail to Prove Legal Right to Railway Land -- Eviction Upheld for Public Infrastructure Development

The judgment involved 25 connected writ petitions filed by residents of Malad, Mumbai, against eviction notices from the Western Railway Administratio...

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Encroachment on B-Kharab Land: Key Judgment Every Property Owner Must Know.

The writ petitions were filed challenging action of BBMP alleging construction over a storm water drain and seeking protection from demolition –...