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Bombay High Court Allows Land Acquisition Reference, Enhances Compensation for Acquired Land Under Land Acquisition Act, 1894. Court Determined Market Value Based on Comparable Sale Instances and Potential for Development, Rejecting Government's Valuation Method.

The case is a land acquisition reference under Section 18 of the Land Acquisition Act, 1894, arising from the acquisition of land belonging to Godrej ...

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Supreme Court Allows NCDC's Appeal in Income Tax Dispute Over Deduction of Grants as Revenue Expenditure. Grants disbursed by a statutory corporation as part of its business are deductible under Section 37 of the Income Tax Act, 1961, regardless of the capital nature of the source funds.

The National Co-operative Development Corporation (NCDC), established under the National Co-operative Development Corporation Act, 1962, is a statutor...

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High Court Dismisses Writ Petition Against Order Holding Suit for Modification of Trust Scheme Not Maintainable Before Persona Designata. The District Judge as Persona Designata Does Not Have Jurisdiction to Amend the Scheme Framed Under Section 92 CPC; Such Suits Must be Filed in Civil Court.

This writ petition arises from a challenge to the order dated 5 December 2024 passed by the President of Shree Dnyaneshwar Maharaj Sansthan, Alandi, P...

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Bombay High Court Grants Conditional Leave to Defend in Summary Suit — Emphasizes Need for Brevity in Pleadings. The court allowed the defendants to defend the suit on condition of depositing a portion of the claimed amount, while deprecating prolix pleadings.

The applicant, JSW Steel Ltd., filed a summary suit under Order 37 of the Code of Civil Procedure, 1908, against M/s. Paras Das Jain and Sons and two ...

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Supreme Court Clarifies Deduction of Broken Period Interest for Banks Treating Securities as Stock-in-TradeDeduction Allowed as Revenue Expenditure for Banks Holding Securities as Stock-in-Trade

The Supreme Court addressed the treatment of broken period interest for tax purposes. The issue centered on whether broken period interest could be de...

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Bombay High Court Enhances Compensation for Deceased Daily Wage Earner in Motor Accident Claim — Multiplier Based on Deceased's Age, Future Prospects, and Filial Consortium Granted. Employer's Non-Compliance with Labour Laws Not Determinative of Employment; Preponderance of Probabilities Standard Applied.

The appellants, parents and brother of 19-year-old Sagar Gavade, filed a First Appeal against the judgment and award of the Motor Accident Claims Trib...