Income Tax Judgements
NATURE OF INCENTIVE SUBSIDY RECEIVED BY A SUGAR FACTORY UNDE
CHEZHIYAN 24 September 2008 at 16:01
It is the object for which the subsidy/assistance is given which determines the nature of the incentive subsidy; the form of the mechanism through which the subsidy is given is irrelevant
AAR ON TAXABILITY OF A CANADIAN COMPANY, HAVING NO PE IN IND
CHEZHIYAN 24 September 2008 at 16:01
Where the applicant is in the business of providing bioanalytical services to various pharmaceutical companies around the world, the consideration/fee paid by the Indian pharmaceutical companies to the applicant in respect of bioequivalence tests con
APMC is not local authority, should pay tax
Sathyanarayana G 24 September 2008 at 16:01
Agricultural Produce Market committees are not local authorities for tax tax exemption and are liable to pay tax
ALLOWABILITY OF BUSINESS EXPENDITURE QUA EX-GRATIA PAYMENT
CHEZHIYAN 24 September 2008 at 16:01
The ex-gratia payment in excess of the limits prescribed under the payment of Bonus Act either under section 36(1)(ii) or section 37(1) of the Income-tax Act, is allowable as business expenditure although the payment does not cover contractual or cus
ALLOWABILITY OF BUSINESS EXPENDITURE QUA EX-GRATIA PAYMENT I
CHEZHIYAN 24 September 2008 at 16:01
The ex-gratia payment in excess of the limits prescribed under the payment of Bonus Act either under section 36(1)(ii) or section 37(1) of the Income-tax Act, is allowable as business expenditure although the payment does not cover contractual or cus
Mahendra Jain Vs. ITO
Taxguy 23 September 2008 at 14:54
Where the assessee is carrying on an illegal activity which is treated as a business, any loss arising in such business as a result of confiscation by the authorities is an allowable loss. However, where the assessee is carrying on a lawful business,
ALLOWABILITY OF BUSINESS EXPENDITURE QUA EX-GRATIA PAYMENT I
CHEZHIYAN 23 September 2008 at 14:54
The ex-gratia payment in excess of the limits prescribed under the payment of Bonus Act either under section 36(1)(ii) or section 37(1) of the Income-tax Act, is allowable as business expenditure although the payment does not cover contractual or cus
ACIT Vs. SAURASHTRA KUTCH STOCK EXCHANGE
Taxguy 23 September 2008 at 14:54
Rectification of an order stems from the fundamental principle that justice is above all. It is exercised to remove the error and to disturb the finality.
Commissioner of Income Tax, Madras vs Ponni Sugars Limited
Taxguy 23 September 2008 at 14:54
Whether the incentive subsidy received by the assessee is a capital receipt not includible in the total income
Burmah Castrol vs. DIT Mumbai
Taxguy 23 September 2008 at 14:54
CIT cannot disarray the AAR. An attempt to belittle the role of this Authority in the statutory scheme of adjudication cannot be countenanced.
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