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High Court of Karnataka Quashes Penalty Order in Stamp Duty Dispute — Agreement of Sale Not Liable to Stamp Duty as Conveyance. Court held that an agreement of sale does not require stamp duty as a conveyance under Article 5(e) of the Karnataka Stamp Act, 1957, and impounding with penalty was improper.

The petitioner, Mr. R. Mahendra Kumar Shah, filed a writ petition under Article 227 of the Constitution of India challenging an order dated 25.11.2015...

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High Court Reconsiders Land Owner's Cross Objection for Enhanced Compensation After Supreme Court Remand. Reconsideration Limited to Valuation of Trees and Classification of Survey No. 336 as Irrigated or Dry Crop Land Under Land Acquisition Act, 1894.

The land owner filed a cross objection seeking enhancement of compensation awarded by the Reference Court in Land Acquisition Case No.281/2006. The Re...

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Supreme Court Allows Appeal in Income Tax Deduction Case for Accrued Development Liability. Deduction for Estimated Future Development Expenses Allowed Under Section 10(1) of Indian Income-tax Act, 1922, as Liability Was Accrued, Not Contingent.

The dispute concerned the income tax assessment of a land-developing company that followed the mercantile method of accounting. The appellant, Messrs....

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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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High Court of Karnataka Adjudicates Writ Petition Concerning Nursery Exemption in Land Acquisition for Dr. Shivarama Karanth Layout. Petitioner claims exemption under Government Order dated 01-01-1987 for nursery land acquired for layout formation.

Background: The case involves acquisition of land for the formation of a residential layout known as Dr. Shivarama Karanth Layout by the Bangalore Dev...