Bombay High Court

Sec. 37(4), Section 32, Section 37

Bombay H.C : Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the expenditure of Rs. 10,029 as maintenance expenses and Rs. 11,375 depreciation allowance, for the asst. yr. 1977-78 in relation to the flats at Jupiter Apartments and Sunita Apartments, was not expenditure incurred on the maintenance of residential accomodation in the nature of the guest house, and was, therefore, an admissible deduction ?

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High Court Of Bombay CIT vs. Ocean Carriers Pvt. Limited Sections 32, 37(4) Asst. Year 1977-78 Dr. B.P. Saraf &

Sec. 28(i), Sec. 37(1), Section 22, Section 28, Section 37, Section 4

Bombay H.C : hether, on the facts and in the circumstances of the case and in law, the Tribunal was justified in holding that the compensation received from the shareholders was to be taxed as income from business and not as income from property and also in holding that the ITO was not entitled to enhance the compensation to the extent of the compensation received by the shareholders in their own right ?

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High Court Of Bombay : Full Bench CIT vs. Shree Nirmal Commercial Ltd. Sections 4, 22, 28(i), 37(1) Asst. Year

Section 256, Section 260, Section 33

Bombay H.C : Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the claim of development rebate on the cost of meters installed by the assesseecompany at the residential or office premises of its consumers, was not at variance with the provisions of s. 33(6) of the Act ?

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High Court Of Bombay CIT vs. Thana Electricity Supply Ltd. Sections 33(6), 256, 260 Asst. Year 1974-75 Dr. B.P. Saraf

Income Tax Case Laws

Bombay H.C : Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the dividend amounting to Rs. 32,26,214 declared at the annual general meeting of the assessee on the 17th Sept., 1971 and paid out of the general reserves was not includible in the computation of the capital for the purposes of Companies (Profits) Surtax Act, 1964, for the asst. yr. 1972-73 ?

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High Court Of Bombay Hindustan Ferodo Ltd. vs. CIT Sections Surtax SCH. II, Surtax Rule 1 Asst. Year 1972-73, 1973-74

Sec. 43(5), Section 43

Bombay H.C : Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the contract with Jam Manufacturing Co. Ltd. and the other contract with Sayaji Mills No. 2 resulting in the payment of compensation did not amount to a speculative transactions and in directing the allowance of the loss of Rs. 26,943 as a business loss ?

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High Court Of Bombay CIT vs. Jaydwar Textiles Section 43(5) Dr. B.P. Saraf & U.T. Shah, JJ. IT Ref. No.

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