Supreme Court of India held that income tax returns do not necessarily furnish an accurate guide of the real income particularly when parties are engaged in a matrimonial conflict. Hence, it is for the Family Court to determine what would be the real income based on a holistic assessment.
Polyflex (India) Pvt. Ltd. Vs CIT (Supreme Court) SC ruling denying 80IB claim to manufacturer of intermediary product for the end product falling under entry 25 of 11th schedule of Income Tax Act, 1961. Sub- Whether deduction u/s 80IB can be claimed by a manufacturer of an item which falls under entry 25 of the […]
Supreme Court held that determination/ award of compensation for use and occupation of the premises should be at the same rate at which the landlord would have been able to let out the premises and earn the rent if the tenant would have vacated the premises.
Singapore Airlines Ltd. Vs CIT (Supreme Court) Whether an airline is responsible for deducting tax at source in respect of supplementary commission which an agent is paid on the difference between the actual fare and the net fare- Section 194H of Income-tax Act, 1961 analyses including whether liability to deduct when the tax can be […]
SC held that the exclusion of an industrial area or areas from the limits of municipal councils or municipalities under the state laws in exercise of statutory power or by virtue of a declaration under proviso to Article 243-Q, would not result in that area ceasing to be a local area within Entry 52 of List II.
DCIT Vs Manish Vijay Mehta (ITAT Mumbai) Undisputedly, in this case, the assessee is a nonresident from A.Y. 2001-02 and has been working as an employee in Belgium. He is having the income of interest on fixed deposits in India and is filing the return of income since A.Y. 2003-04 showing residential status as non-resident. […]
hether Registrar while registering any immovable property ,the value of which has been determined in a court monitored public auction can apply the provisions of Section 47A of the Indian Stamp Act (West Bengal Amendment) Act, 1990 to allege undervaluation of the property and demand higher stamp duty?
Supreme court held that High Court cannot entertain Public Interest Litigations (PIL) which is based on mere allegations by the person who has not been able to fully satisfy his credentials.
Supreme Court held that as per regulation 114(4) of the Company Secretaries Regulations, 1982 election can be challenged by the candidate concerned. Hence, writ petition filed by the petitioner not contesting the election of office bearers to the High Court was wrongly entertained.
Whether an exclusion clause destroying the very contract knowingly entered, can be permitted to be used by a party who introduced it, becomes a beneficiary and then to avoid its liability?
