Search Results for "Underwriting Commission"

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Bombay High Court Dismisses Assessee's Claim for Depreciation on Share Issue Expenses Capitalised to Plant and Machinery. Expenditure on Raising Share Capital Not Part of Actual Cost Under Section 32 of Income Tax Act, 1961, and Falls Under Section 35D as Preliminary Expenses.

The case involves an Income Tax Reference under Section 256(1) of the Income Tax Act, 1961, by the Income Tax Appellate Tribunal for the assessment ye...

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Bombay High Court Dismisses Revenue's Appeal in Cooperative Bank Deduction Case — Commission Income from Cotton Hundi and Electricity Bill Collection Qualifies for Section 80P(2)(a) Deduction. The court held that such activities are integral to banking business and covered by the deduction.

The case involves two appeals by the Commissioner of Income Tax-III, Nagpur, against the respondent, Amravati District Central Cooperative Bank Ltd, f...

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Supreme Court Allows Appeal in Insurance Claim Dispute — Repudiation of Overseas Mediclaim Policy for Non-Disclosure of Pre-existing Condition Set Aside. Insurer Failed to Prove That Insured Had Knowledge of Hyperlipidaemia at Time of Proposal.

The appellant, Manmohan Nanda, sought an overseas mediclaim policy from United India Assurance Co. Ltd. to travel to the USA for a family wedding. He ...

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Claim Repudiation — Non-Disclosure of Material Facts — Substantial Disclosure — Prudent Insurer Test — Reinstatement of Insurance Benefits with Interest

The Supreme Court held that the non-disclosure of additional policies did not amount to material suppression because the disclosed policy itself had a...