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Supreme Court Clarifies Deduction of Broken Period Interest for Banks Treating Securities as Stock-in-TradeDeduction Allowed as Revenue Expenditure for Banks Holding Securities as Stock-in-Trade

The Supreme Court addressed the treatment of broken period interest for tax purposes. The issue centered on whether broken period interest could be de...

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Bombay High Court Dismisses Election Petition for Non-Disclosure of Cause of Action in Gadchiroli-Chimur Lok Sabha Constituency Dispute. Alleged Discrepancy of 62 Votes in Final Tally Does Not Constitute a Cause of Action Under Section 100(1)(d)(iv) of the Representation of the People Act, 1951.

The petitioner, Dr. Rameshkumar Bapuraoji Gajbe, contested the election to the 17th Lok Sabha from the Gadchiroli-Chimur Constituency as a candidate o...

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Bombay High Court Disposes of Four Petitions Under Section 9 of Arbitration Act by Common Order. Interim Measures Sought by Financing Company Against Borrower and Guarantor for Default in Loan Repayments Secured by Hypothecated Equipment.

L&T Finance Limited, a company registered under the Companies Act, 1956, filed four petitions under Section 9 of the Arbitration and Conciliation Act,...

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Supreme Court Allows Appeal in Electricity Duty Case Due to Statutory Interpretation. Levy Under Bihar Electricity Duty Act 1948 Not Applicable as Supply Was to Licensee, Not Consumer as Defined Under Sections 2(b) and 2(ee).

The appeal arose from a judgment of the Patna High Court dated 18 September 2017, which declined to entertain a writ petition filed by the appellant, ...