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High Court of Karnataka Dismisses Appeals by Cement Company Seeking Enhanced Compensation for Land Acquisition — Market Value Determined Based on Comparable Sales and Potential Use

The appellant, M/s Bagalkot Cement & Industries Ltd., a company incorporated under the Companies Act, 1956, owned land in Bagalkot that was acquired b...

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Bombay High Court Allows Revenue Appeal in Income Tax Case — Payment to Retiring Partners Held Capital Expenditure. Amount of Rs.1,34,678 paid to retiring partners under Memorandum of Understanding is capital expenditure not deductible as revenue expenditure.

The case involves an appeal by the Commissioner of Income Tax against the order of the Income Tax Appellate Tribunal. The assessee, Mandovi Hotel Pvt....