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Bombay High Court Quashes Penalty Orders in Maize Import License Dispute — Actual User Condition Not Violated. Petitioner Trading House Allowed to Import Maize Through Canalizing Agency Without Being Actual User Under Foreign Trade Policy.

The petitioner, Shah Nanji Nagsi Exports Pvt. Ltd., a trading house incorporated in 1919 and engaged in export of rice, oil seed, food grains and puls...

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Bombay High Court Dismisses Writ Petition Challenging Revision Order Allocating Government Land to Army Havaldar. The court upheld the revisional authority's decision under the Maharashtra Land Revenue Code, 1966, finding no error in granting the land to the respondent.

The petitioners, fourteen residents of village Gosarane, taluka Kalwan, district Nashik, filed a writ petition under Article 226 of the Constitution o...

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Bombay High Court Allows Assessee's Appeal in Income Tax Case Regarding Deduction of Mortgage Repayment Under Section 48(i). The court held that repayment of mortgage debt is an expenditure incurred in connection with transfer of mortgaged asset, allowable under Section 48(i) of Income Tax Act, 1961.

The judgment involves two tax appeals, one by the revenue and one by the assessee, arising from a common issue regarding the allowability of mortgage ...

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Bombay High Court Dismisses Insurance Company's Challenge to Stamp Duty Demand on Marine-cum-Erection Policies. Policies for construction of rigs classified as Sea Insurance under Article 47A(ii) of Indian Stamp Act, 1899.

The petitioners, Oriental Insurance Co. Ltd. and its Divisional Manager, challenged a demand for stamp duty on six insurance policies issued in favor ...

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Bombay High Court Allows Appeal in Land Acquisition Compensation Case — Enhances Compensation for Acquired Agricultural Land. Court held that market value must be determined based on potential use and comparable sales, not merely classification as agricultural land.

The appellants, owners of agricultural land in Naiguinim, Bicholim, Goa, challenged the compensation awarded by the Reference Court under the Land Acq...

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Bombay High Court Dismisses CBI Revision Against Dropping of Charges Against Former Maharashtra Chief Minister Ashok Chavan in Adarsh Housing Society Scam. Court holds that sanction for prosecution under Section 19 of Prevention of Corruption Act, 1988 is mandatory and its absence vitiates proceedings.

The case pertains to the Adarsh Cooperative Housing Society scam, where government land admeasuring about 3758 sq.mtrs in Block-VI at Colaba, Mumbai, ...