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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 Partly Allows Appeal in Motor Accident Claim Case — Negligence Apportionment Set Aside and Compensation Enhanced. Deceased's income assessed at Rs. 15,000 per month with 25% future prospects and multiplier of 14 applied under Motor Vehicles Act, 1988.

The appellants, original claimants in a motor accident claim petition, filed an appeal under Section 173 of the Motor Vehicles Act, 1988, challenging ...

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Bombay High Court Upholds School Tribunal Order Reinstating Teacher with 50% Back Wages in Termination Dispute. Management's claim of abandonment of service rejected as termination letter was issued without proper inquiry.

The petitioners, Late Sanjay Gandhi Shikshan Prasarak Mandal and Shri Rajeshwar Secondary School and Junior College (collectively 'Management'), chall...

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Bombay High Court Allows Insurance Company's Appeal in Motor Accident Claim Case Due to Income Exceeding Limit Under Section 163-A of Motor Vehicles Act, 1988. Claim Petition Under Section 163-A Held Not Maintainable as Deceased's Annual Income Exceeded Rs.40,000/- Prescribed Limit.

The appellant, Bajaj Allianz General Insurance Co. Ltd., challenged the judgment and order dated 10/03/2016 passed by the Motor Accident Claims Tribun...