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Bombay High Court Dismisses Assessee's Appeal in Income Tax Case on Dividend Distribution Tax Rate. DDT under Section 115-O is a tax on the company, not on shareholders, and the India-UK DTAA does not provide a lower rate for DDT.

The Bombay High Court dismissed a batch of seven appeals filed by Foseco India Ltd. under Section 260A of the Income Tax Act, 1961, challenging a comm...

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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 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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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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High Court Removes Executor in Testamentary Dispute Under Indian Succession Act, 1925 -- Over Estate Administration Breach

The judgment involves a dispute over the administration of the estate of late Rajnikant Ambalal Kilachand, where the Respondent, under a Will dated 27...