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Articles for Computation

Rule 8D Of IT Rules Can Be Invoked Only If Assessee's Computation Of Expenses Attributable To Earning Exempt Income Is Found Inadequate: Delhi HC
4 days, 8 hours ago

Rule 8D Of IT Rules Can Be Invoked Only If Assessee's Computation Of Expenses Attributable To Earning Exempt Income Is Found Inadequate: Delhi HC

Live Law  

The Delhi High Court has held that recourse to Rule 8D of the Income Tax Rules, 1962 for computing disallowance under Section 14A of the Income Tax Act is available only if the Assessee's computation of expenses attributable to earning exempt income, is found to be inadequate. Aggrieved, the Assessee preferred an appeal before the Commissioner of Income Tax which …

Delhi Income Rule Expenditure Exempt Computation Earning
Can Only Invoke Section 33C(2), ID Act, For Computation Of Pre-Existing Benefits; Not To Decide New Issues: P&H HC
5 days, 6 hours ago

Can Only Invoke Section 33C(2), ID Act, For Computation Of Pre-Existing Benefits; Not To Decide New Issues: P&H HC

Live Law  

Punjab and Haryana High Court: A single judge bench consisting of Justice Jagmohan Bansal struck down the order of the Labour Court that ordered payment of overtime wages to a pump operator. The High Court held that the Labour Court was not competent to decide such claims, as Section 33C only applies for the computation of pre-existing benefits; it cannot …

Court Labour Wages Respondent Act Claim Overtime
Google Unveils Quantum Computing Chip Willow That Outpaces Supercomputers
1 week, 6 days ago

Google Unveils Quantum Computing Chip Willow That Outpaces Supercomputers

Deccan Chronicle  

Google has announced a groundbreaking advancement in quantum computing as it unveiled its latest quantum chip called Willow. “Willow performed a standard benchmark computation in under five minutes that would take one of today’s fastest supercomputers 10 septillion years — a number that vastly exceeds the age of the Universe,” Google said in a blogpost. Google CEO Sundar Pichai said, …

Google Quantum Computing Quantum Chip Willow Qubits
Google says computational power of its new quantum chip Willow suggests we may live in a multiverse
1 week, 6 days ago

Google says computational power of its new quantum chip Willow suggests we may live in a multiverse

India Today  

In a monumental leap for science and technology, Google on Monday unveiled its next-generation quantum computing chip called Willow. The staggering speed of quantum computations aligns with the idea that quantum computers may operate by performing calculations across multiple parallel universes simultaneously, a concept first proposed by physicist David Deutsch. While this remains a theoretical notion, Willow’s astonishing capabilities lend …

Google Quantum Computing Willow Multiverse Quantum Computation
Computation Of Royalty Within Executive's Domain, Courts' Interference Barred Unless Decision-Making Process Is Illegal : Supreme Court
1 month, 1 week ago

Computation Of Royalty Within Executive's Domain, Courts' Interference Barred Unless Decision-Making Process Is Illegal : Supreme Court

Live Law  

Noting that the computation of royalty on minerals is purely a policy decision within the executive's domain, the Supreme Court dismissed the plea challenging the government's change in the royalty calculation method. The Court reaffirms the legislature's discretion to devise policies on royalty without judicial interference, particularly in areas involving complex economic considerations. The Court observed that "at the relevant …

Policy Royalty Supreme Court Minerals Rule Authority Mcr
SC dismisses curative pleas by telecom firms on AGR computation
3 months ago

SC dismisses curative pleas by telecom firms on AGR computation

New Indian Express  

NEW DELHI: In a jolt to telecom firms, the Supreme Court has dismissed a batch of pleas filed by companies, including Vodafone Idea and Bharti Airtel, seeking correction of alleged errors in the Adjusted Gross Revenue. A bench comprising Chief Justice D Y Chandrachud and Justices Sanjiv Khanna and B R Gavai also rejected the plea of telcos seeking to …

Court Telecom Firms Curative
Foreign Tax Credit Can't Be Denied In Spite Of Accepting Computation: Madras High Court
4 months, 3 weeks ago

Foreign Tax Credit Can't Be Denied In Spite Of Accepting Computation: Madras High Court

Live Law  

The Madras High Court has held that the claim of foreign tax credit cannot be denied in spite of accepting the computation.The bench of Justice Senthilkumar Ramamoorthy, on examining the company tax return and the activity statements, appears prima facie that the petitioner has remitted taxes through the Australian branch. The Madras High Court has held that the claim of …

Tax Credit Foreign Claim Return Madras High Court Petitioner
Computation Of 6 Assessment Years For Search Assessments U/S 153C Starts From Date Of Receiving Seized Documents: ITAT
6 months, 2 weeks ago

Computation Of 6 Assessment Years For Search Assessments U/S 153C Starts From Date Of Receiving Seized Documents: ITAT

Live Law  

The Delhi Bench of Income Tax Appellate Tribunal has held that the computation of six assessment years for search assessments under Section 153C of the Income Tax Act starts from the date of receiving seized documents.The bench of Saktijit Dey and Naveen Chandra has relied on the decision of the Supreme Court in the case of CIT vs. Jasjit Singh,. …

Tax Search Assessment Income Case Date Itat
No Penalty Is Leviable U/s 271(1)(C) If Bona Fide Mistake In Original Return Was Corrected By Revised Computation During Assessment: Mumbai ITAT
9 months, 1 week ago

No Penalty Is Leviable U/s 271(1)(C) If Bona Fide Mistake In Original Return Was Corrected By Revised Computation During Assessment: Mumbai ITAT

Live Law  

On finding that assessee had made bona fide mistakes in the computation of its total income while filing its original return, which were later corrected by filing revised computation during assessment proceedings, the Mumbai ITAT deleted the penalty levied u/s 271 of the Income Tax Act. The Bench of the ITAT comprising of Sandeep Singh Karhail and Prashant Maharishi observed …

Loss Tax Income Bench Account Mistake Itat
Date Of Agreement Can't Be Construed As Date Of Sale Of Shares, For Purpose Of Computation Of Capital Gains: Mumbai ITAT
9 months, 1 week ago

Date Of Agreement Can't Be Construed As Date Of Sale Of Shares, For Purpose Of Computation Of Capital Gains: Mumbai ITAT

Live Law  

The Mumbai ITAT ruled that the date of the agreement by no stretch of imagination could be the date of sale of the shares by the assessee to the purchaser, for purpose of computation of capital gains. The assessee had shown capital gain on sale of shares as long-term capital gain as date of acquisition of shares and date of …

Sale Capital Capital Gains Agreement Share Date Bench
ITAT Dirests ALP Computation Towards Guarantee Commission @ 0.3523% In Case Of Macrotech Developers
1 year, 1 month ago

ITAT Dirests ALP Computation Towards Guarantee Commission @ 0.3523% In Case Of Macrotech Developers

Live Law  

The Mumbai Bench of Income Tax Appellate Tribunal has directed the ALP Computation Towards Guarantee Commission at a rate of 0.3523% in the case of Macrotech Developers.The bench of Kuldip Singh and Padmavathy S. has observed that the rate of guarantee commission is required to be determined on the basis of the credit rating of the issuer company. The Mumbai …

Case Commission Rate Given Itat Guarantee Assessee
Registry Remained Open,Summer Vacation Not Excluded From Computation Of Limitation: NCLAT Delhi
1 year, 2 months ago

Registry Remained Open,Summer Vacation Not Excluded From Computation Of Limitation: NCLAT Delhi

Live Law  

The National Company Law Appellate Tribunal, New Delhi Bench, comprising of Justice Ashok Bhushan, Shri Barun Mitra and Shri Arun Baroka, while adjudicating an appeal filed in M K Overseas Export Pvt. Ltd. v Sapan Mohan Garg, has held that the duration of summer vacation of NCLAT cannot be excluded from computation of limitation period, since filing facility was not …

Summer Summer Vacation Vacation Appeal Court Urgent Matters Limitation
NCLAT Extends Benefit Of Limitation Computation To Appeals Filed Between 01.11.2022 To 23.12.2022
1 year, 9 months ago

NCLAT Extends Benefit Of Limitation Computation To Appeals Filed Between 01.11.2022 To 23.12.2022

Live Law  

On 24.12.2022 the National Company Law Appellate Tribunal had issued fresh directions for computation of limitation for filing of appeals before NCLAT. The Court Fee shall be paid through Bharat Kosh and the payment receipt should be attached.” However, the NCLAT SOPs and directions do not contain any direction with regard to computation of limitation, whether limitation is to be …

Order Limitation Filed Filing Dated Appeals Directions
Game: Goat Grommets (Mental computation and dependent probability)
1 year, 10 months ago

Game: Goat Grommets (Mental computation and dependent probability)

ABC  

SUBJECTS: Maths YEARS: F–2, 3–4 Goat Grommets is a surfing contest! For Teachers: How to get the most out of Goat Grommets Encourage students to work out the running total obtained by the two characters individually using mental strategies, and then share their thinking with the class. Encourage students to work out the running total obtained by the two characters …

Students Game Mental Play Number Points Player
Application Of Hudson's Formula For Computation Of Loss In Construction Contract, Not Unreasonable: Bombay High Court
2 years ago

Application Of Hudson's Formula For Computation Of Loss In Construction Contract, Not Unreasonable: Bombay High Court

Live Law  

The Bombay High Court has ruled that while deciding the petition under Section 34 of the Arbitration and Conciliation Act, 1996, the Court is not precluded from considering the findings and conclusions contained in the dissenting opinion of a minority member of the Arbitral Tribunal. Referring to the Supreme Court's decision in McDermott International Inc. versus Burn Standard Co. Ltd. …

Opinion Construction Loss Court Public Policy Bombay High Court Minority
Time Spent On Application Under Section 8 Of A&C Act, Not Excludable For Computation Of Limitation For Counter Claim: Delhi High Court
2 years ago

Time Spent On Application Under Section 8 Of A&C Act, Not Excludable For Computation Of Limitation For Counter Claim: Delhi High Court

Live Law  

The Delhi High Court has ruled that in a suit filed by a party, the time spent by the opposite party in pursuing its application under Section 8 of the Arbitration and Conciliation Act, 1996, cannot be excluded for the purpose of computation of the limitation period for filing the counter-claims by the opposite party before the Arbitral Tribunal. Section …

Court Delhi High Court Application Limitation Tribunal High Respondent
ITAT Directs AO To Allow Depreciation On Molasses Tanks By Making The Correct Computation Of New Assets
2 years, 5 months ago

ITAT Directs AO To Allow Depreciation On Molasses Tanks By Making The Correct Computation Of New Assets

Live Law  

The Kolkata Bench of the Income Tax Appellate Tribunal, consisting of Aby T Varkey and Girish Agarwal, has directed the assessing officer to allow the depreciation on molasses tanks by making the correct computation of new assets. The CIT, in respect of the claim of depreciation on the molasses tank, directed the AO to allow depreciation after verifying that the …

Itat Assessee Cit Depreciation Molasses New Assets Book Profit
Computation Of Period Of Detention For Default Bail U/S 167 CrPC Is To Be Done Afresh If Additional Offence Found Against Accused: Rajasthan HC
2 years, 8 months ago

Computation Of Period Of Detention For Default Bail U/S 167 CrPC Is To Be Done Afresh If Additional Offence Found Against Accused: Rajasthan HC

Live Law  

The Rajasthan High Court has recently observed that the right to seek default/statutory bail accrues to the accused in the nature of an indefeasible right, only if such remedy by preferring an appropriate application has been availed of within the prescribed window from the date of expiry of total period of detention of accused person under Section 167 Cr.P.C., until …

Court Bail Detention Custody Right Accused Offence
Employee Can Claim Gratuity "Either" Under 1972 Act Or The Bank Regulations, Not Under Both Statutes : Rajasthan HC
2 years, 10 months ago

Employee Can Claim Gratuity "Either" Under 1972 Act Or The Bank Regulations, Not Under Both Statutes : Rajasthan HC

Live Law  

The Rajasthan High Court has observed that an employee must receive gratuity, either under the Payment Of Gratuity Act 1972 or under the Regulations framed by the bank, whichever is more beneficial. The employee, therefore, can claim gratuity either under the Act of 1972 or under the regulations framed by the bank, but cannot claim the benefit under both the …

Rajasthan Court Regulations Gratuity Bank Pay Employee
NCDRC Issues Directions For Computation Of Limitation Period After Supreme Court Restores Limitation Extension
2 years, 11 months ago

NCDRC Issues Directions For Computation Of Limitation Period After Supreme Court Restores Limitation Extension

Live Law  

After Supreme Court of India's recent order extending limitation period for filing cases and applications in wake of the surge in COVID-19 cases, the National Consumer Dispute Redressal Commission has issued directions to its Registry for compliance and computation of limitation period.Taking note of the surge in COVID-19 cases across the country, the Supreme Court on 10th January 2022. After …

India Consumer Supreme Court Matters Court Cases Limitation
Computation of Delay in Filing Charge-Sheet & Right To Default Bail: Chattisgarh High Court
3 years, 5 months ago

Computation of Delay in Filing Charge-Sheet & Right To Default Bail: Chattisgarh High Court

Live Law  

The Chhattisgarh High Court arrived at a computation for the delay in filing the charge sheet, where the date of arrest is to be excluded and the date when charge-sheet was filed is to be included. It also held that the grant of default bail is an indefensible right under Section 167 CrPC, and the same cannot be defeated by …

Court Bail Charge Case Right State Accused