Search Results for "genuine transaction"

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Bombay High Court Dismisses Revenue's Appeal in Income Tax Case Regarding Transaction Charges. Transaction charges paid to stock exchanges are not fees for technical services under Section 194J of the Income Tax Act, 1961, as stock exchanges perform regulatory and administrative functions.

The case involves an appeal by the Commissioner of Income Tax against the order of the Income Tax Appellate Tribunal (ITAT) regarding the assessment y...

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Supreme Court Allows Appeal in Specific Performance Suit, Restores Trial Court's Decree for Money Recovery Instead of Specific Performance. The High Court erred in granting specific performance as the transaction was found to be a loan with collateral security under the Specific Relief Act, 1963.

The Supreme Court allowed the appeal by the subsequent purchasers (appellants) against the High Court's decree granting specific performance of an agr...

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Bombay High Court Allows Petition by Society Members Against Unauthorized Construction and Demolition by Developer. Members have locus standi to challenge illegal construction; administrator must act lawfully.

The petitioners, who are members of the Linking Road Housing Society Limited, filed a writ petition challenging the unauthorized construction and demo...

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Supreme Court Upholds SEBI Order Against Corporate Giant in Futures Manipulation Case. The Court held that cornering 93.63% open interest through agents and dumping shares to depress settlement price constituted fraud under PFUTP Regulations.

The case involves appeals by Reliance Industries Limited (RIL) against orders of the Securities Appellate Tribunal (SAT) which upheld SEBI's findings ...

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Bombay High Court Allows Appeal in Income Tax Case — HDPE Powder Stock Not Unexplained Investment Under Section 69. Assessee's books of accounts showing purchases and closing stock were accepted, and nature and source of investment were duly explained.

The appeal was filed by the assessee, Babulal C. Borana, a dealer in HDPE plastic powder, under Section 260A of the Income Tax Act, 1961 against the d...