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High Court of Bombay Considers Second Appeals in RERA Delayed Possession Matter. Builder Challenges Appellate Tribunal's Direction to Pay Interest at 10.05% p.a. from February 2014.

These Second Appeals were filed before the High Court of Judicature at Bombay by Runwal Constructions, a registered partnership firm, challenging the ...

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High Court of Karnataka Division Bench Reserves Judgment in Revenue Appeals Concerning Tax Exemption on Land Acquisition Compensation. The Bench Considers if Section 96 of the 2013 Act Applies to Acquisitions under the Karnataka Highways Act.

The Commissioner of Income Tax (TDS), Bengaluru, filed five intra-court writ appeals under section 4 of the Karnataka High Court Act, 1961, challengin...

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Bombay High Court Quashes Reassessment Order in Capital Gains Tax Case — Transfer of Shares of Foreign Company Not Taxable in India. Shares of a Bermuda company transferred outside India do not constitute transfer of a capital asset situated in India under Section 2(14) of the Income Tax Act, 1961.

The petitioner, Techpac Holdings Ltd., a company incorporated in Bermuda, challenged an assessment order dated 25th March 2013 passed by the Deputy Co...

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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....