News Bombay High Court holds insurance claim amounts received for death of horses by Poonawalla Estate Stud and Agricultural Farm to be capital receipts, not taxable as business profits, reiterating “heads of income under the Act are mutually exclusive” while quashing tax demands RawlawJuly 11, 20255 min read
News Bombay High Court Holds Sales Tax Incentives for Industries in Backward Areas as Capital Receipts Not Taxable, Clarifies “Purpose Test” Over Form, Enabling Industries to Claim Exemption for Setting Up New Units RawlawJuly 6, 20255 min read
