Supreme Court Clarifies Treatment of Subscription Receipts: Peerless General Finance vs. Commissioner of Income Tax (2019)

/ Accounting Practices, Capital Receipts, Companies Act, 1956, Companies Act, 1956 with violation of the Act, Income Tax Law, Judges, R.F. Nariman, RBI Circular of 1987, Reserve Bank of India Act, Reserve Bank of India Act with Directions, Revenue Receipts, Sanjiv Khanna

Supreme Court Clarifies Treatment of Subscription Receipts: Peerless General Finance vs. Commissioner of Income Tax (2019) LEGAL ISSUE: Whether subscription receipts of a finance company should be treated as income or capital receipts for tax purposes. CASE TYPE: Income Tax Law. Case Name: The Peerless General Finance and Investment Company Ltd. vs. Commissioner of Income […]

Supreme Court Clarifies Treatment of Subscription Receipts: Peerless General Finance vs. Commissioner of Income Tax (2019) Read Post »