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Supreme Court Allows NCDC's Appeal in Income Tax Dispute Over Deduction of Grants as Revenue Expenditure. Grants disbursed by a statutory corporation as part of its business are deductible under Section 37 of the Income Tax Act, 1961, regardless of the capital nature of the source funds.

The National Co-operative Development Corporation (NCDC), established under the National Co-operative Development Corporation Act, 1962, is a statutor...

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Bombay High Court Dismisses BEML Limited's Challenge to Disqualification in Nagpur Metro Tender. Court upholds tender evaluation committee's decision to disqualify BEML for not meeting eligibility criteria under the tender conditions.

The petitioner, BEML Limited, a Central Public Sector Undertaking, challenged the decision of respondent no.1, Nagpur Metro Rail Corporation Limited (...