Transit rent paid by the developer is not a revenue receipt and so not taxable: Bombay HC Sarfaraz S. Furniturewalla vs. Afshan Sharfali Ashok Kumar & Ors. (WP No: 4958 OF 2024) Facts: 1. The…
Additions cannot be made based on profit assumptions: Punjab & Haryana HC M/s Shree Digvijaya Woollen Mills Ltd., Amristar Vs Commissioner of Income-Tax (ITR-3- 2010)(O&M) Facts: 1. The taxpayer discarded a copper wire cable of…
Option to choose a valuation method for valuing shares rests solely with the assessee: Delhi HC AGRA PORTFOLIO PVT. LTD. (ITA 1385/2018) Facts: 1. The appellant had allotted 3,15,000 equity shares of a face value…
20% Pre deposit is not a precondition for granting a stay on Income Tax demand: National Association Of Software And Services Companies (NASSCOM) (TS-195-HC-2024(DEL)) Observations of the Hon Delhi HC while rejecting the precondition of…
Subscription to database is not royalty or professional fees and so not taxable: Delhi HC THE COMMISSIONER OF INCOME TAX - INTERNATIONAL TAXATION -3 Vs RELX INC Facts: 1. The case is pertaining to the…
Interest on loan taken to invest in a subsidiary is allowable as a deduction: Bombay HC PCIT Vs Videocon Industries Ltd. & Anr (Bombay High Court) (Income Tax Appeal No.434 of 2018) Facts: 1. The…
Women can be Karta of an HUF: Delhi HC MANU GUPTA Vs SUJATA SHARMA & ORS (Case No.: RFA(OS) 13/2016 & CM APPL. 6041/2016) Order of the division bench of Justice Suresh Kumar Kait and…
