Deciding two connected writ petitions arising from a common Industrial Tribunal Award, the Delhi High Court set aside the Tribunal's direction granting hotel workmen a further…
Labour Laws
06/09/20264 min read
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Informative
Receipt of Subscription Amount from Holding Company: Calcutta HC reaffirms Income Tax Addition
Corporate Law & GovernanceIncome Tax
The Calcutta High Court upheld the deletion of an income tax addition related to the receipt of a subscription amount from a holding company. The court agreed with the ITAT that the subscription amount was not taxable as income. This decision provides clarity on the treatment of such transactions, confirming that genuine capital receipts are not subject to income tax.
