Supreme Court

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Supreme Court Upholds Revenue in Income Tax Appeal Holding Interest on Securities Is a Distinct Head of Income Not Taxable as Business Income. Bank's Claim to Set Off Carried Forward Loss Against Interest on Securities Under Section 24(2) Remanded for Fact-Finding on Whether Securities Were Trading Assets in Same Banking Business....

The appellant, a bank, claimed set-off of carried forward loss from the previous year against interest on securities income for assessment year 1945-46 under Section 24(2) of the Indian Income-tax Act...

Supreme Court

Supreme Court Dismisses Appeals in Criminal Conspiracy and Criminal Breach of Trust Case Involving Misuse of Company Funds. Evidence of Post-Conspiracy Transactions Held Admissible Under Section 14 of Indian Evidence Act, 1872 to Establish Criminal Intent of Accused and Bogus Nature of Earlier Transactions....

The Supreme Court dealt with criminal appeals by special leave arising from convictions for conspiracy and criminal breach of trust involving the funds of Jupiter General Insurance Co. Ltd. The accuse...

Supreme Court

Supreme Court Quashes Sales Tax Assessment Based on Pure Guess in Bihar Sales Tax Act Case. Best Judgment Assessment Under Section 10(2)(b) of Bihar Sales Tax Act, 1944 Required Evidence or Material Basis, Not Arbitrary Estimation....

The Supreme Court examined the validity of a sales tax assessment made under the Bihar Sales Tax Act, 1944, where the assessing officer rejected the assessee's returns and books of account and estimat...

Supreme Court

Supreme Court Allows Assessee in Income Tax Reference Matter, Sets Aside High Court Order Refusing to Direct Tribunal to State Case. Whether Business Amounted to Dealing in Shares and Properties or Investment Was Held to Be Mixed Question of Law and Fact Under Section 66(1) and 66(2) of Indian Income-tax Act, 1922....

The dispute arose from income tax assessments for the years 1943-44 to 1948-49, excluding 1947-48, concerning an investment company incorporated in 1924. The company was originally incorporated as an ...

Supreme Court

Supreme Court Upholds Appellant in Income Tax Act Case Regarding Exemption for Charitable Trust Income from Managing Agency Business. Managing Agency Business Held to be Property and Income Therefrom Exempt Under Section 4(3)(i) of Indian Income-tax Act, 1922, Despite Revenue's Objections....

The Supreme Court considered an appeal by J.K. Trust, Bombay, against the Commissioner of Income-tax/Excess Profits Tax, Bombay, concerning the taxability of income derived from a managing agency busi...

Supreme Court

Supreme Court Allows Revenue Appeal on Applicability of Indian Income-tax Act to Part B States. Court Holds Indian Income-tax Act, 1922 Not Applicable to Assessment Years 1948-49 and 1949-50 Under Section 13 Finance Act, 1950 and Section 2(14A); Appeals Under Patiala Income-tax Act Not Competent....

The Supreme Court considered an appeal by certificate from the Pepsu High Court concerning the applicability of the Indian Income-tax Act, 1922, to the erstwhile Pepsu area for assessment years 1948-4...

Supreme Court

Supreme Court Upholds Assessee in Income Tax Dispute Over Inclusion of Minor Sons' Partnership Income in Mother's Total Income. Word 'Individual' in Section 16(3)(a)(ii) of Indian Income-tax Act, 1922 Construed to Mean Only Male, Excluding Female Assessees....

These two appeals before the Supreme Court raised a common question of law concerning the interpretation of the word 'individual' in Section 16(3) of the Indian Income-tax Act, 1922, as amended by Act...

Supreme Court

Supreme Court Upholds Collector of Customs in Sea Customs Confiscation Case Involving Import Without Licence. Section 3(2) of Imports and Exports (Control) Act, 1947 Deemed Goods Prohibited Under Sea Customs Act, 1878 and Did Not Offend Article 14; Confiscation Under Section 167(8) Valid Without Option to Pay Fine....

The Supreme Court of India heard a petition under Article 32 of the Constitution challenging an order of confiscation and penalty imposed by the Collector of Customs, Calcutta, on goods imported by th...

Supreme Court

Supreme Court Considers Appeal by Commissioner of Income-tax Relating to Capital Gains Tax on Resignation of Managing Agency. Key Legal Issue Whether Relinquishment Constitutes Transfer Under Section 12B of Indian Income-tax Act, 1922....

The respondent company, Provident Investment Co. Ltd., was the managing agent of two other companies and held certain shares in them. In September 1946, one D offered to purchase some shares along wit...

Supreme Court

Supreme Court Dismisses Appeals by Railway Servants Against Conviction for Criminal Conspiracy and Misappropriation Under Prevention of Corruption Act. Railway Servants Held to Be Public Servants Under Section 2 of Prevention of Corruption Act, 1947, as Section 137(4) of Indian Railways Act, 1890, Bar Only Applied to Offences Under Indian Penal Code....

The Supreme Court heard two criminal appeals by special leave filed by S. Gangoli and P.R. Chaudhri, both railway servants, against their conviction under Section 120B of the Indian Penal Code and Sec...

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Supreme Court

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Supreme Court Quashes Sales Tax Assessment Based on Pure Guess in Bihar Sales Tax Act Case. Best Judgment Assessment Under Section 10(2)(b) of Bihar Sales Tax Act, 1944 Required Evidence or Material Basis, Not Arbitrary Estimation....

Supreme Court Upholds Appellant in Income Tax Act Case Regarding Exemption for Charitable Trust Income from Managing Agency Business. Managing Agency Business Held to be Property and Income Therefrom Exempt Under Section 4(3)(i) of Indian Income-tax Act, 1922, Despite Revenue's Objections....

Supreme Court Allows Revenue Appeal on Applicability of Indian Income-tax Act to Part B States. Court Holds Indian Income-tax Act, 1922 Not Applicable to Assessment Years 1948-49 and 1949-50 Under Section 13 Finance Act, 1950 and Section 2(14A); Appeals Under Patiala Income-tax Act Not Competent....

Supreme Court Upholds Assessee in Income Tax Dispute Over Inclusion of Minor Sons' Partnership Income in Mother's Total Income. Word 'Individual' in Section 16(3)(a)(ii) of Indian Income-tax Act, 1922 Construed to Mean Only Male, Excluding Female Assessees....

Supreme Court Considers Appeal by Commissioner of Income-tax Relating to Capital Gains Tax on Resignation of Managing Agency. Key Legal Issue Whether Relinquishment Constitutes Transfer Under Section 12B of Indian Income-tax Act, 1922....

Bombay High Court Allows Appeals by Acquiring Body in Land Acquisition Compensation Cases,...

Bombay High Court Dismisses NHAI Appeals in Land Acquisition Compensation Dispute — Upho...

Bombay High Court Dismisses Writ Petition Challenging Concurrent Findings in Suit for Spec...

Bombay High Court Dismisses MBBS Student's Writ Petition Seeking Fourth Attempt in Anatomy...

High Court of Bombay Hears Writ Petitions Challenging Tenancy Orders Under Bombay Tenancy ...

Supreme Court Acquits Appellant in Prevention of Corruption Act Case Due to Absence of Pec...

Supreme Court Modifies High Court Order Appointing Different Arbitrator Under Section 11 o...

Supreme Court Upholds Scrutiny Committee Invalidation of Scheduled Tribe Caste Claim but P...

Supreme Court Allows Homebuyers' Appeal and Waives Time Extension Charges Imposed by Devel...

Supreme Court Dismisses Insurer's and Claimant's Appeals in Motor Accident Death Compensat...