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Bombay High Court Dismisses Petition Challenging Appointment of Nominated Councillor as Leader of House in Pune Municipal Corporation. Section 19-1A of Maharashtra Municipal Corporation Act, 1949 Does Not Require Leader to Be Elected Councillor; Term 'Councillor' Includes Nominated Members.

The Bombay High Court dismissed a writ petition challenging the appointment of a nominated Councillor as Leader of the House in the Pune Municipal Cor...

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Bombay High Court Allows Assessees in Income Tax Reference Regarding Gold Bonds Profit as Capital Gain. Profit from sale of National Defence Gold Bonds held not taxable as business income under Income Tax Act, 1961, as transaction was not an adventure in the nature of trade.

The case involves three income tax references arising from a common order of the Income Tax Appellate Tribunal, Mumbai, for the assessment year 1980-8...

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High Court of Karnataka Hears Petition Challenging Suspension and Cancellation of FCRA Registration — Petitioner Contends Violation of Natural Justice Principles. Court Examines Requirement of Reasonable Opportunity of Being Heard Under Section 14(2) of the Foreign Contribution (Regulation) Act, 2010.

The petitioner, Centre for Wildlife Studies, a trust engaged in wildlife conservation and research, registered under the Foreign Contribution (Regulat...

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Supreme Court Dismisses State's Appeal in VAT Dispute — Purchase Price Under GVAT Act Does Not Include VAT Component. Value Added Tax and unclaimed tax credit purchases excluded from taxable turnover of purchases for reduction of tax credit under Section 11(3)(b) of Gujarat Value Added Tax Act, 2003.

The State of Gujarat appealed against the judgment of the Gujarat High Court which affirmed the order of the Gujarat Value Added Tax Tribunal. The dis...

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APPEAL No. 331 of 2012

The dispute centered on the shareholding of Gharda Chemicals Ltd., a closely held company originally belonging to the Gharda and Kavasmaneck families....