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Bombay High Court Dismisses Assessee's Appeal, Upholds Applicability of Section 50C to Transfer of Leasehold Rights. Leasehold Rights Constitute Capital Asset and Assignment Thereof Attracts Section 50C Deeming Provision.

The appeal arose from an order of the Income Tax Appellate Tribunal, Nagpur dated 24.03.2017 dismissing the assessee's claim that Section 50C of the I...

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Bombay High Court Allows Writ Petition of Instructor Against School Tribunal Order — Appointment of Respondent No.1 Quashed as Without Approval. Tribunal's Direction to Recover Salary from Petitioner Held Without Jurisdiction.

The petitioner, Sangita Vidyadhar Malte, was appointed as a full-time instructor in MLT (MCVC) at a junior college run by respondent no.2 society on 1...

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High Court Dismisses Revenue's Appeal in TDS Limitation Case Upholding Quarterly Computation. Limitation Period Under Section 201(3) of Income Tax Act, 1961 Runs Separately for Each Quarter from End of Financial Year in Which TDS Return Filed, Not Cumulatively Annually.

The appeal arose from an order of the Income Tax Appellate Tribunal, Pune dated 12 March 2018 concerning proceedings under Section 201(1) of the Incom...

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Bombay High Court Holds Leave Encashment on Resignation Taxable as Perquisite Under Section 17(3)(i) r/w Section 17(1)(iv) of Income-tax Act, 1961. The court ruled that the sum of Rs. 95,000 received by the assessee upon resignation from employment is a perquisite and liable to tax.

The case is an income tax reference under section 256 of the Income-tax Act, 1961, arising from the assessment year 1980-81. The assessee, Shri B.K. K...

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Bombay High Court Dismisses Appeals in Land Dispute and Teacher Recruitment Cases — Upholds Single Judge's Orders on Limitation and Selection Process. In LPA No.177/2012, appeal dismissed as barred by limitation; in LPA No.288/2011, selection of respondent upheld as per rules.

The judgment comprises two Letters Patent Appeals. LPA No.177/2012 arises from a land dispute where the appellants challenged an order of a Single Jud...

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Bombay High Court Allows Writ Petition Challenging Adjustment of Refund Without Notice Under Section 245 of Income Tax Act, 1961. Refund for Assessment Year 2008-09 Adjusted Against Alleged Demands for 2014-15 and 2015-16 Without Prior Intimation to Assessee.

The petitioner, Greatship (India) Limited, filed a writ petition challenging the action of respondent No.2 (Centralised Processing Centre) in adjustin...

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NCLAT Considers Appeals by Unsuccessful Resolution Applicants Against Approval of Resolution Plan for Reliance Broadcast Network. Appeals Challenge NCLT Mumbai Orders Dismissing Objections to Challenge Process and Approving Sapphire Media Ltd.’s Plan.

This case involves five company appeals filed before the National Company Law Appellate Tribunal, Principal Bench, New Delhi, arising out of the corpo...

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Supreme Court Adjudicates Appeals by Sahara Companies on SEBI's Regulatory Powers Over OFCDs. Case centers on Section 55A(b) Companies Act and compliance with DIP Guidelines for issuance of optionally fully convertible debentures.

The case involved two Sahara Group companies, Sahara India Real Estate Corporation Limited (SIRECL) and Sahara Housing Investment Corporation Limited ...

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Supreme Court Interprets Scope of 'Child' under POCSO Act in Appeal Concerning Mentally Challenged Victim. Mental Age of Adult with Cerebral Palsy Considered for Applicability of Special Procedures under Protection of Children from Sexual Offences Act, 2012.

The case concerned a criminal appeal by the prosecutrix, a 38-year-old woman suffering from cerebral palsy (R. Hemiparesis), through her mother. An FI...