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Supreme Court Dismisses Appeal Against Refusal to Sanction Variation of Town Planning Scheme. State Government's Refusal to Delete Internal Road Upheld as Valid Exercise of Discretion Under Section 91 of the Maharashtra Regional and Town Planning Act, 1966.

The appeal arose from a judgment of the Bombay High Court dismissing a writ petition filed by the appellant trust. The trust challenged an order dated...

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Supreme Court Upholds SEBI Order Against Corporate Giant in Futures Manipulation Case. The Court held that cornering 93.63% open interest through agents and dumping shares to depress settlement price constituted fraud under PFUTP Regulations.

The case involves appeals by Reliance Industries Limited (RIL) against orders of the Securities Appellate Tribunal (SAT) which upheld SEBI's findings ...

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Bombay High Court Dismisses Revision Application in Easementary Right of Way Dispute Involving Waqf Property. Civil Court Retains Jurisdiction Over Declaration of Easementary Rights as Dispute Does Not Relate to Waqf Property or Rights Therein.

The case involves a Civil Revision Application filed by the Kausa Jama Masjid Trust (Defendant-Trust) challenging an order of the Trial Court rejectin...

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Supreme Court Dismisses Revenue Appeal in Income Tax Case; Arrear Dividends on Shares Held Not Taxable as Income. Purchase of Shares Cum-Dividend Implied Price Included Dividend Amount, Which Was Not Income of the Purchaser but Capital Receipt Under Income-tax Act, 1922.

The case involved a tax dispute regarding the treatment of arrear dividends received by the respondent, India Discount Co. Ltd., a dealer in shares an...

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Bombay High Court Dismisses Petition Challenging Closure Order for Country Liquor Shop Under Section 142(1) of Bombay Prohibition Act, 1949. Licence for Sale of Country Liquor is Not a Fundamental Right and Must Yield to Public Interest.

The petitioner, Satish Damodhar Kasar, filed a writ petition under Articles 226 and 227 of the Constitution of India before the Bombay High Court, Ben...

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Bombay High Court Allows Revenue's Appeal on Deduction Limit Under Section 36(1)(viia) of Income Tax Act. The court held that deduction for provision for bad and doubtful debts is limited to 5% of gross total income, not total income after other deductions.

The Revenue appealed against the order of the Income Tax Appellate Tribunal which allowed a deduction of Rs.3,57,34,509 under Section 36(1)(viia) of t...