![Expenditure on Issue of Shares to Indian Public is not Eligible for Deduction: Bombay HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/07/Shares-TaxScan.jpg "Expenditure on Issue of Shares to Indian Public is not Eligible for Deduction: Bombay HC [Read Judgment]")
Expenditure on Issue of Shares to Indian Public is not Eligible for Deduction: Bombay HC [Read Judgment]
The division bench of the Bombay High Court, in a recent decision, held that the amount spent on issue of shares to Indian public is “capital...
![Income from Mall Operations is Taxable as Business Income, says ITAT Mumbai [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/City-Centre-Mall-Taxscan.jpg "Income from Mall Operations is Taxable as Business Income, says ITAT Mumbai [Read Order]")
![Income from Sale of Mutual Fund is ‘Capital Gain’, not Business Income, says ITAT Delhi [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/Mutual-Fund-Taxscan.jpg "Income from Sale of Mutual Fund is ‘Capital Gain’, not Business Income, says ITAT Delhi [Read Order]")
![Collection of Cess by Amul Research & Development Association shall be treated as ‘Medical Relief’, Exemption cannot be denied: ITAT Ahmedabad [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/Amul.jpg "Collection of Cess by Amul Research & Development Association shall be treated as ‘Medical Relief’, Exemption cannot be denied: ITAT Ahmedabad [Read Order]")
![‘Repairs & Maintenance’ expenditure are revenue in nature: ITAT Mumbai [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/07/ITAT-Tax-Scan.jpg "‘Repairs & Maintenance’ expenditure are revenue in nature: ITAT Mumbai [Read Order]")
![No Fringe Benefit Tax when No Income Tax is payable by an employer: ITAT Mumbai [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/08/Fringe-Benefit-Tax-TaxScan.jpg "No Fringe Benefit Tax when No Income Tax is payable by an employer: ITAT Mumbai [Read Order]")
Functions entrusted to division bench in a Writ Appeal is adjudicate questions of Law, not facts: SC [Read Order]
The two-judge bench of the Supreme Court, has recently opined that the jurisdiction of the division bench in a Writ Appeal is limited to adjudication of questions of law. Findings of fact recorded...
Confiscation of Smuggled Goods is not a ‘Business Loss’ even if the Assessee is acquitted from Criminal charges: Calcutta HC [Read Judgment]
“Decision of a Criminal Court is not binding in a Civil Action”. The division bench of the Calcutta High Court in a recent decision categorically held that the confiscation of the smuggled goods...
Income from the Sales of Agricultural land situated more than 8kms from the Muncipality exempted from Income Tax: Madras HC [Read Judgment]
The division bench of the Madras High Court in a recent decision observed that the amount of profit received by the assessee for the sale of agricultural land which is situated at a distance more than...
Mere Sale of Immovable Property of the Trust alone, cannot be the sole factor to treat the said income under the head “Business Income”: Madras HC [Read Judgment]
The division bench of the Madras High Court, has recently observed that mere sale of an immovable property of the trust alone, cannot be the sole factor for determining the tax liability of a trust...
