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Madras High Court Allows Assessee's Appeal in Income Tax Case — Unabsorbed Depreciation Set-off Against Section 69 Addition Upheld. Addition of Unaccounted Stock Treated as Business Income Under Section 32(2) of Income-Tax Act, 1961.

The case involves an appeal by M/s.Sivasakthi Threads (assessee) against the order of the Income-Tax Appellate Tribunal which upheld the rejection of ...

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Supreme Court Acquits Accused in Abetment of Suicide Case Due to Lack of Mens Rea and Active Participation. Joint Suicide Pact Does Not Amount to Abetment Under Section 306 IPC.

The case pertains to the death of actress Ms. Pratyusha, who consumed poison along with the appellant, Gudipalli Siddhartha Reddy, on 23rd February 20...

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Supreme Court Dismisses Assessee's Appeal in MODVAT Credit Deduction Case Under Section 43B of Income Tax Act. Unutilised MODVAT Credit and Sales Tax Recoverable Account Not Allowable as Deduction Without Actual Payment of Excise Duty Liability.

The Supreme Court dismissed appeals by Maruti Suzuki India Ltd. against the Delhi High Court judgment dated 07.12.2017, which upheld the disallowance ...

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Supreme Court Upholds Farmers' Insurance Claim in Cold Storage Fire — Insurer Liable Despite No Privity of Contract. Farmers are Consumers Under Consumer Protection Act, 1986, and Insurance Company Must Pay for Loss of Stored Agricultural Produce.

The case involves multiple appeals arising from a common order of the National Consumer Disputes Redressal Commission regarding a fire that occurred o...

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Bombay High Court Allows Cenvat Credit Appeals in Central Excise Case — Extended Limitation Period Not Invokable Without Suppression of Facts. Credit Denial Unsustainable When Simultaneously Available to Other Factories Under Cenvat Credit Rules, 2002.

The case involves four appeals filed under Section 35G of the Central Excise Act, 1944 by M/s. Sanvijay Rolling & Engineering Ltd. and Sanjay P. Agarw...

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Bombay High Court Quashes Tribunal Order for Ignoring Binding Precedent in Section 14A Disallowance Case. Tribunal's refusal to follow earlier decision of the same court on identical issue held to be a jurisdictional error warranting interference under Article 226.

The petitioner, HDFC Bank Ltd., filed a writ petition under Articles 226 and 227 of the Constitution of India challenging an order dated 23 September ...

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High Court of Bombay at Goa Allows Appeal in Part Regarding Computation of Deduction Under Section 80HHC of Income Tax Act, 1961 — Receipts from Hire of Barges, Proceeds of Services, Repairs of Vessels, and Extraction Charges Held Part of Total Turnover for Export Deduction.

The appellant, Sesa Goa Ltd., is a company engaged in the business of mining and export of iron ore. For the assessment year 1996-1997, the appellant ...