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High Court of Bombay Examines Jurisdictional Challenge to Transfer Pricing Adjustment on Equity Share Issuance. Whether Alleged Shortfall in Premium Constitutes Income from International Transaction Under Chapter X of Income Tax Act, 1961.

Vodafone India Services Pvt. Ltd. (the Petitioner), a wholly owned subsidiary of a non-resident holding company, required funds for its telecommunicat...

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Bombay High Court hears appeal against CESTAT order upholding duty demand and confiscation of diamonds due to shortage and non-compliance with export obligations — substantial questions raised on interpretation of Notification No. 177/94-Cus and para 8.78B of Handbook of Procedures.

The appellant, a partnership firm engaged in manufacturing and exporting gold jewellery studded with diamonds at its unit in the Santacruz Electronics...

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Supreme Court Allows Appeals by DISCOMs and Generating Companies in Electricity Tariff Dispute — Change in Law Compensation for Coal Shortfall Must Be Computed Based on Actual GCV and SHR as per PPAs.

The judgment involves two civil appeals concerning the determination of compensatory tariff for Change in Law events under long-term Power Purchase Ag...

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Bombay High Court Partially Allows Appeals in Land Acquisition Compensation Case — Market Value of Agricultural Land Fixed at Rs. 50,000 per Acre. Compensation for Fruit Trees Reduced Due to Lack of Evidence of Actual Number and Age.

The case involves two cross-appeals arising from land acquisition proceedings for the Upper Manjra Medium Project. The claimant, Annasaheb Sambhajirao...

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Karnataka High Court Dismisses Writ Petition Filed by Company Against Government Order Fixing Market Value of Encroached Land and Demanding Payment of Rs. 982 Crores for 77 Acres 19 Guntas; Upholds Government's Valuation Determined Pursuant to Supreme Court Directions in Civil Appeal No. 5181/2003

M/S Chamundeswari Build Tech Private Limited (petitioner), incorporated in 1994, developed a golf resort, Eagleton Golf Resort, in Ramanagara District...

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Supreme Court Upholds Tax Authorities in Madras Urban Land Tax Act — Act Held Constitutionally Valid. Levy of 0.4% on Market Value of Urban Land Under Madras Urban Land Tax Act, 1966 Not Violative of Articles 14 and 19(1)(f), and Retrospective Operation Reasonable.

The case concerned the constitutional validity of the Madras Urban Land Tax Act, 1966, which levied a tax on urban land at 0.4% of its market value. T...

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Bombay High Court Allows Appeal in Land Acquisition Case — Compensation Enhanced from Rs. 10,000 to Rs. 20,000 per Hectare. Market Value Determined by Comparable Sale Method with 20% Deduction for Development Under Section 23 of Land Acquisition Act, 1894.

The appellant, Harish Ratanlal Bhansali, was the owner of agricultural land Survey No. 312/B measuring 4 Hectare 90 R situated at village Goregaon, Ta...