Exgratia bonus paid to the employees over and above the eligible bonus under the Payment of Bonus Act was allowable as expenditure under Section 37 (1).
Bombay High Court held that as per section 14A of the Income Tax Act any expenditure incurred in relation to any income which is not included in total income would not be allowed as expenditure. Thus, interest on borrowed funds used to earn dividend which is exempt from tax cannot be allowed as expenditure.
Bombay High Court rules in favor of Sanathan Textile Pvt Ltd, stating no service tax is liable on ocean freight. Read the detailed analysis and conclusion here.
Learn from the Bombay High Court’s judgment why actual agricultural activity isn’t crucial in determining land as agricultural, impacting tax liabilities.
Bombay High Court held that payments made to non-resident for availing General Business Support Service under Cost Contribution Arrangement is not in the nature of fees for ‘technical services’ and accordingly tax is not deductible on the same.
Read the full text of the Bombay High Court’s order directing the deposit of an Income Tax refund amount with Prothonotary and Senior Master. Get insights into the case between PCIT and Shahaji Bhad.
Bombay High Court quashes reassessment notices against Godrej Industries, citing issuance beyond the limitation period. A landmark victory for corporate law.
Bombay High Court rules storage tanks not land or building, impacting TDS deductions on storage charges. A pivotal decision for tax compliance practices.
Bombay High Court rules procedural deficiencies in filing appeals cannot invalidate claims filed within limitation, ensuring justice in CGST refund cases.
Learn how the Bombay High Court permitted rectification of Form GSTR-1, addressing clerical errors and ensuring compliance with GST regulations.
