decisions

Simply because some incidental activity of the assessee is revenue generating, does not provide any justification to hold that it is tainted with "commerciality" and reaches a point where relationship of mutuality ends and that of trading begins. Full Article

In respect of the properties where restriction under Rent Control Act is not applicable, the annual letting value has got to be determined after taking into consideration various factors and the standard rent or Municipal valuation may be adjusted after taking into account such factors. Full Article

The taxpayer was a company incorporated under Hong Kong laws. It filed its return of income declaring total income of INR196 million. AO noticed that the taxpayer had not offered for tax the amount received toward reimbursement of expenses, which included custom duty and accordingly the income was assessed at INR197.2 million. Aggrieved by the same, the taxpayer filed an appeal before the CIT(A). Full Article

The Bombay Stamp Act applies to the entire State of Maharashtra. All the instruments specified in the Schedule to the Act are covered under this Act. 1. IMPORTANT DEFINITIONS 1.1 “Conveyance” has been defined to include: a conveyance on sale, every instrument, every decree or final order of any Civil Court, every order made by [...] Full Article