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Income Tax : Delhi High Court held that the provisioning for Asset Reconstruction Cost qualified the prescriptions of AS 29 and the assessee wa...
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Income Tax : The assessee is a limited company engaged in the business of Unit manufacturing homogenized and pasteurized milk and manufacturing...
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Delhi High Court held that the provisioning for Asset Reconstruction Cost qualified the prescriptions of AS 29 and the assessee was thus justified in accounting for the same. Thus, that question is answered in favour of assessee.
ITAT Delhi held that interest and penalty due to default in payment of license fee is merely compensatory in nature and hence the same is revenue expenditure. Accordingly, PCIT classifying them to be capital expenditure is not sustainable.
The assessee is a limited company engaged in the business of Unit manufacturing homogenized and pasteurized milk and manufacturing of milk products like Ghee Butter, milk powder and other milk products.
The assessee is into development and construction of a project. The case was selected for scrutiny and AO issued notices u/s 142(1) and 143(2) of the Act, calling for certain details.
It was the case of the appellant that he acquired rights from the respondent in pursuant to the agreement dated 07.09.2006. Property (shop) in question were part of government grant hence does not require registration.
The Central Government has the power to lay down the principles for taxation on mechanically propelled vehicles by the State. The Central Government may lay down the principles by enacting a law or by subordinate legislation
On 21.04.2017, a Share Purchase Agreement was executed, wherein the erstwhile Directors sold their equity in favour of Accord Mediplus Pvt. Ltd. Respondent Nos.6 to 12 also resigned from the Trust on 01.09.2017.
Supreme Court held that refund of 100% court fees granted as the amount of court fees involved was not excessive and the dispute was resolved amicably by mediation under section 89 of the Code of Civil Procedure 1908 [CPC].
It was held that writ courts did not interfere in cases where statutory remedies were available unless there was a clear violation of fundamental rights, lack of jurisdiction, or procedural perversity leading to manifest injustice.
RP could not be blamed for having breached the IBC for the CoC to have approved the resolution plan of Parth with requisite majority share which action was taken by the CoC in the exercise of its commercial wisdom.
