Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights December 2014 Year 2014 This

Taxability of compensation received appellant from the Insurance ...


High Court Clarifies Taxability of Insurance Compensation for Windmill Destruction u/s 50, Corrects Tribunal's Error.

December 5, 2014

Case Laws     Income Tax     HC

Taxability of compensation received appellant from the Insurance Company on account of destruction of Wind Mill u/s 50 – Tribunal committed an error in applying provisions of section 41(2) - HC

View Source

 


 

You may also like:

  1. Depreciation on the boilers and windmill leased out by the assessee disallowed to the extent of 50% - unless various components and accessories of the boiler and...

  2. Service tax paid on Group Personal Accident Insurance (GPA) policy, General Insurance, Repair and Maintenance of Vehicles used for providing the taxable service, Vehicle...

  3. Characterization of receipt - interest received by the assessee u/s 28 and 34 of the Land Acquisition Act, 1894 - The Delhi High Court, in a case concerning the...

  4. Disallowance of claim of deduction @ 50% u/s 57(iv) - interest received on enhanced compensation - on the basis of the overriding provision of Section 56(2)(viii) read...

  5. Deduction u/s. 80IB - compensation received by the assessee from the insurance company - some of the assessee’s stocks were destroyed and the assessee was compensated by...

  6. The Circular addresses the taxability of salvage/wreck value in motor vehicle insurance claims under GST law. Insurance companies are not liable to pay GST on salvage...

  7. Dishonor of Cheque - compoundable offences or not - as the matter has been settled between the parties and the compensation amount has been paid to the complainant–Opp...

  8. Classification of supply - supply of services or not - The Applicant is not in the business of providing insurance coverage. - The recovery of 50% of Parental Health...

  9. Exemption from Service tax - Weather Based Crop Insurance Scheme or the Modified national Agricultural Insurance Scheme

  10. The services rendered by an insurance agent, duly licensed u/s 42 of the Insurance Act for general insurance businesses, are taxable as "insurance auxiliary services"....

  11. Key man insurance policy - Taxability of the sums received on maturity of life insurance policy - Assessee claimed it as exempt income u/s 10(10D) - It was contended...

  12. Depreciation on glow sign boards and oxygen gas cylinders was rejected by the Assessing Officer, holding that the transaction on the last day of the accounting year...

  13. Rental income determination - assessee jointly owns 50% house property in Singapore with wife - offered 100% rental income for AY 2014-15 erroneously, rectified in...

  14. Levy of interest u/s 50(3) - Wrong availment of Input of Tax Credit and reversal thereof - The court noted that the issue of levying interest under Section 50(3) of the...

  15. Demand of interest u/s 50 - Seeking benefit of amendments to Section 50 as the amendment was done retrospectively by the Finance Acts of 2019 and 2021. - The High court...

 

Quick Updates:Latest Updates