Deduction u/s 80IC - interest awarded in an arbitration ...

Case Laws Income Tax

December 19, 2012

Deduction u/s 80IC - interest awarded in an arbitration proceeding for delayed payments under a contract was to be recorded as business income and could not be treated as "income from other source" - HC

View Source

← Previous Next →

Deduction u/s 80IC - interest awarded in an arbitration ...

Case Laws Income Tax

December 19, 2012

You may also like:

Interest paid on late payment of TDS - allowable deduction u/s 37(1) or not? - Interest on delayed payment of TDS cannot be allowed as deduction. - The interest...

The High Court addressed various issues in a challenge to a final arbitration award u/s 34 of the Arbitration and Conciliation Act, 1996. The dispute involved deductions...

Deduction u/s 37(1) - Whether, payment of interest on delayed payment of instalments is penal in nature - Held No - It was simplicitor liability of interest on delayed...

The case dealt with the interpretation of interest clauses in an arbitration award, specifically whether interest could be payable on interest or if the awarded 15% per...

Disallowance u/s 37 of interest paid on delayed payment of additional Customs Duty was challenged, contending that it was not penal in nature but compensation for delay...

Arbitration award challenged u/s 34 of the Arbitration and Conciliation Act, 1996. Arbitrator allowed 3% of contract amount as on-site establishment expenses using...

The Supreme Court examined a challenge u/s 34 of the Arbitration and Conciliation Act, 1996 against an arbitral award and the grant of conditional stay on its execution....

Denial of deduction u/s 80IC - no merit in the claim of the assessee vis-à-vis deduction under section 80IC of the Act in respect of the interest received from HIMUDA,...

If contract expressly bars award of interest pendente lite, the same cannot be awarded by the Arbitrator. - the bar to award interest on delayed payment by itself will...

Scope of the Arbitration - Denial of pendente lite interest on the award amount - if the contract contains a specific clause which expressly bars payment of interest,...

Dishonour of Cheque - Effect of arbitration proceedings - The High Court referred to a Supreme Court judgment which clarified that arbitration proceedings and...

Principle of Issue Estoppel - Simultaneous parallel proceedings while arbitration proceedings - So long as the award passed by the Arbitrator – Housing Commissioner...

Rejection of application for condonation of delay in preferring the application u/s 34 of the Arbitration and Conciliation Act - No application for setting aside the...

Approval of Resolution Plan - The Adjudicating Authority has not taken cognizance of the award and rejected the application filed by the Appellant. Since the Appellants...

The High Court held that the interest on a money award is to be calculated at three times the RBI-notified rates with monthly compounding, fluctuating along with RBI...

Quick Updates: