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Supreme Court Allows Assessees in Interest Tax Act Case on Hire-Purchase Instalments. Hire-purchase agreements are distinct from loans, and interest component in instalments is not taxable under Section 2(7) of the Interest-Tax Act, 1974, as it does not constitute interest on loans and advances.

The dispute involved a batch of civil appeals concerning the tax liability of non-banking finance and leasing companies under the Interest-Tax Act, 19...

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Supreme Court Allows Municipal Committee's Appeal in Land Auction Case Due to Lack of Confirmation. Highest Bidder Acquires No Enforceable Right to Sale Deed Without Confirmation by Deputy Commissioner Under Haryana Municipalities Management of Municipal Properties and State Properties Rules, 1976.

The dispute arose from a civil suit for mandatory injunction filed by the respondent-plaintiff against the Municipal Committee, Barwala, seeking execu...