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Bombay High Court Nagpur Bench Reviews Industrial Court's Finding of Unfair Labour Practice Against Employer for Denying Permanent Status to Temporary Workers. Court Examines Whether Completion of 240 Days of Continuous Service Under Model Standing Orders Mandates Confirmation.

This batch of writ petitions was filed by Mahindra and Mahindra Ltd. and one employee before the Bombay High Court, Nagpur Bench, challenging a common...

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Supreme Court Upholds Assessee's Right to Carry Forward Loss as Vocation Income Under Income-tax Act, 1922. Hold that Decision on Loss in Previous Year Not Binding on Subsequent Year's Officer Under Section 24(2).

The assessee, Manmohandas, was appointed as Treasurer of a Bank in respect of certain branches, sub-agencies, and pay offices. During the previous yea...

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KAHC010137632012_1

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Supreme Court Allows Assessee's Appeals; Profits from Sale of Gold and Shares Held Capital Receipts Not Taxable as Income. Court Rules Transactions Were Realisation of Investment, Not Adventures in Nature of Trade, and High Court Erred in Treating Tribunal's Finding as Unreviewable Fact.

The appeals arose from references under Section 66(2) of the Income Tax Act, 1922 concerning the assessee, a large landholder, who had inherited subst...