![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]")
Capital Gain Tax would not Attract if the Previous Transaction which the assesee acquired the Property was not Taxable: Bombay HC [Read Judgment]
In a recent ruling, the division bench of the Bombay High Court, while allowing tax relief to Mr. Nusli Wadia, held that the sale of his life interest...
![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]")
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...
![Subsidy received as Excise Duty Reimbursement is a Capital Receipt, not Taxable: Bombay HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/06/Bombay-High-Court-2-Tax-Scan.jpg "Subsidy received as Excise Duty Reimbursement is a Capital Receipt, not Taxable: Bombay HC [Read Judgment]")
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...
A sub-contractor is not Entitled to Weighted Deduction provided u/s 35B of the Income Tax Act: Bombay HC [Read Judgment]
While upholding the decision of the Appellate Tribunal, the division bench of the Bombay High Court recently ruled that,a subcontractor, who did not provide any technical know how to a person outside...
![A sub-contractor is not Entitled to Weighted Deduction provided u/s 35B of the Income Tax Act: Bombay HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/06/Bombay-High-Court-Tax-Scan.jpg "A sub-contractor is not Entitled to Weighted Deduction provided u/s 35B of the Income Tax Act: Bombay HC [Read Judgment]")
Expenditure in respect of issue of Additional Share Capital is Capital in nature, Bombay HC disallows expenditure [Read Judgment]
Expenditure in respect of issue of Additional Share Capital is Capital in nature, says Bombay High Court. The division bench of the Bombay High Court in a recent decision, disallowed the...
Amendment to the definition of ‘charitable purpose’ would not give jurisdiction to Commissioner of Income Tax to cancel the Registration; Bombay HC [Read Judgment]
In a recent Judgment the division bench of Bombay High Court has held that, the amendment to the definition of charitable purpose by adding of the proviso, would not ipso facto give jurisdiction to...