![Welding Electrodes are Integral part of Manufacture of Goods: Bombay High Court allows CENVAT Credit [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/06/Bombay-High-Court-2-Tax-Scan.jpg "Welding Electrodes are Integral part of Manufacture of Goods: Bombay High Court allows CENVAT Credit [Read Judgment]")
Welding Electrodes are Integral part of Manufacture of Goods: Bombay High Court allows CENVAT Credit [Read Judgment]
In a recent ruling, Bombay High Court held that welding electrodes are also the integral part of the ultimate manufacture of goods, hence the Assessee...
![Breakdown and Technical Snags of Machineries during Trial runs cannot be a reason for denying Depreciation: Bombay HC grants relief to L & T [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2017/12/Larsen-Turbo-Taxscan.jpg "Breakdown and Technical Snags of Machineries during Trial runs cannot be a reason for denying Depreciation: Bombay HC grants relief to L & T [Read Judgment]")
![Capital Gain Tax would not Attract if the Previous Transaction which the assesee acquired the Property was not Taxable: Bombay HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2017/04/Nusli-Wadia-Taxscan.jpg "Capital Gain Tax would not Attract if the Previous Transaction which the assesee acquired the Property was not Taxable: Bombay HC [Read Judgment]")
Disclosure of Income after Show Cause Notice is not ‘Voluntary Disclosure’: Bombay HC [Read Judgment]
In a recent decision in Samson Maritime Ltd v. CIT, the division bench of the Bombay High Court held that disclosure made by the assessee after the initiation of the assessment proceedings would not...
Interest Paid to Seller of Securities for the broken period is Deductible from Income: Bombay HC [Read Order]
The division bench of the Bombay High Court, in CIT v. American Express Bank, held that the amount of interest paid to the seller of the securities for the broken period is deductible from the total...
![Interest Paid to Seller of Securities for the broken period is Deductible from Income: Bombay HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/03/Interest-Deductible-Taxscan.jpg "Interest Paid to Seller of Securities for the broken period is Deductible from Income: Bombay HC [Read Order]")
Documents found during Search must ‘belong to Assessee’ is a necessary Condition to invoke Assessment u/s 153C: Bombay HC
The division bench of the Bombay High Court, in a recent decision, held that the documents found during search must “belong to the assessee” is a necessary condition to invoke assessment u/s 153C of...
Subsidy received as Excise Duty Reimbursement is a Capital Receipt, not Taxable: Bombay HC [Read Judgment]
The division bench of the Bombay High Court in Commissioner of Income Tax 4 v. M/s. Harinagar Sugar Mills Ltd, held that the subsidy received from the Bihar Government in the form of excise duty...
Foreign Taxes not entitled to Double Tax Relief can be allowed as Deduction u/s 40(a)(ii) of the Income Tax Act: Bombay HC [Read Judgment]
In a significant Judgment, a division bench of the Bombay High Court held that the foreign taxes which are not entitled for double tax relief under sections 90 and 91 of the Income Tax Act can be...