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Showing posts with label income tax. Show all posts
Showing posts with label income tax. Show all posts
Sunday, 7 September 2025

Supreme Court: How to appreciate evidence of income tax or sales tax return while assessing compensation in motor accident claim petition?

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 As far as the income is concerned, we agree with the High Court that the Tribunal had entered into mere surmises and conjectures to decline...

Supreme Court: Medical board's certificate can be accepted in motor accident claim petition even without a witness being examined

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 Insofar as the disability is concerned, we have no doubt that the medical board's certificate can be accepted, even without a witness b...
Friday, 22 August 2025

Whether landlord is bound to deduct TDS on rental income of Rs 40,000/ per month given for household use in india?

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 No, the landlord is not bound to deduct TDS (Tax Deducted at Source) on rental income of ₹40,000 per month given for household (residential...
Sunday, 10 August 2025

Bombay HC: How to ascertain which perks given to employee is for his benefit and which perks are for benefit of his family for computation of compensation in motor accident?

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 In the present case, the deceased was in service.  As far as determination of income by way of salary is concerned, the law has been laid d...
Saturday, 28 June 2025

Supreme court: Courts Must Notify Income Tax Dept. Of Rs. 2 Lakh And Above Cash Transaction Claims In Suits

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However, when the Bill was passed, the permissible limit was capped under Rupees Two Lakhs, instead of the proposed Rupees Three Lakhs. When...

Supreme Court Reinforces Property Law Principles: Agreement to Sell Cannot Create Rights Against Third Parties

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  The Supreme Court of India's recent judgment in The Correspondence, RBANMS Educational Institution v. B. Gunashekar & Ors. (Civil...
Sunday, 2 March 2025

Supreme Court: Motor accident claim tribunal can not reduce Compensation Merely Because Dependents Took Over Business Of Deceased

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ANALYSIS, REASONING AND CONCLUSION: 11. Having examined the matter, the Court finds that the Award rendered by the Tribunal is well-consider...
Saturday, 25 January 2025

Supreme Court: In Disproportionate Assets Cases, Income Tax Returns are Presumed To Be Accurate; The court Must Consider Inflation & Dynamic Factors

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  We are of the view that the Appellant’s wife’s income must be considered as well while calculating the total income and assets. Both the A...
Friday, 13 December 2024

Supreme Court: What is net income for the purpose of computation of compensation in the case of motor accident?

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Yet again in New India Assurance Co. Ltd. v. Charlie and Anr.   MANU/SC/0244/2005 : AIR2005SC2157 , the same view was reiterated.  However, ...

Supreme Court: The deduction towards income tax/surcharge alone should be considered to arrive at the net income of the deceased while computing compensation in case of motor accident

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This Court in Shyamwati Sharma and Ors. v. Karam Singh and Ors.   MANU/SC/0468/2010 : (2010) 12 SCC 378, while considering the issues of d...

Supreme Court: Where the annual income is in the taxable range, appropriate deduction should be made towards income tax while computing compensation in case of motor accident

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The submission of the respondents that the deduction of 30% from the salary is not warranted in view of the decision in Sarla Verma, is not ...
Friday, 14 April 2023

Whether there is a valid service of notice under Income tax Act if notice is sent on secondary Email ID?

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  In the present case on 7th January 2021 the petitioner had filed its Return of Income for AY 2020 -21 and the email id mentioned therein w...
Saturday, 25 March 2023

Whether Husband is Entitled To TDS Credit On Interest Earned From Amount Gifted To His Wife?

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A careful perusal of sub-rule (2) indicates that where the income, on which tax has been deducted at source, is assessable in  the hands of ...
Tuesday, 25 October 2022

Supreme Court: Profit-oriented Educational Institutions not entitled to tax emption under Section 10(23C) of the Income Tax Act, 1961

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  86.   The conclusions of this court are summarized as follows: a. It is held that the requirement of the charitable institution, society o...
Sunday, 2 October 2022

Supreme Court: Income Tax Returns And Audit Reports Are Reliable Evidence To Determine Income Of Deceased in motor accident claim petition

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  In contrast, the High Court set aside the same on the ground that the income earned was out of capital assets and cannot be said to have b...
Tuesday, 26 April 2022

Can the Income Tax department refuse to release documents to the assessee if SLP is pending Supreme court?

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 Even otherwise, the statute confers authority to grant authorisation for retaining the documents beyond the order of assessment only till t...
Monday, 1 November 2021

Good article on Capital gain valuation for Income tax purpose

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 Submitted by  A. Mohammed Ibrahim. B. ARch, FICA. https://docs.google.com/document/d/1FqqUFF8ZkGXx_ZbC_efH3DuYU0lZ9vxJ/edit?usp=sharing...
Saturday, 22 May 2021

Income Tax TDS rates for AY 2022-2023

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  https://drive.google.com/file/d/1sgk3_qUp0-24WXt0NQa2BcLSqsI1Oaj4/view?usp=sharing
Wednesday, 7 April 2021

Under which circumstances court can permit the consolidation of criminal cases?

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   Perusal of the above table reveals that the respondent has preferred these complaints on the very same material, evidence and  documents ...
Sunday, 24 November 2019

Whether judgment debtor can deduct income tax out of mesne profits paid under decree of court?

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The above definition of rent makes it abundantly clear that rent is a payment by whatever name you call it for use of any land or building...