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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 …

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 …

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

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 …

Madras High Court

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

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. …

Bombay High Court

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

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 …

Delhi High Court

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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 …

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

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 …