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Bombay High Court Allows Loss Deduction for Confiscated Foreign Currency in Income Tax Reference. Foreign currency confiscated by customs authorities under FERA held allowable as business loss under Income Tax Act, 1961, even though treated as undisclosed income.

The case involves an income tax reference by the Revenue against the order of the Income Tax Appellate Tribunal (ITAT) for the assessment year 1982-83...

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Supreme Court Allows Appeal in Matrimonial Dispute Over Misappropriation of Stridhan. High Court's Reversal of Family Court's Findings on Custody and Misappropriation of Gold Jewellery Set Aside Due to Improper Reappreciation of Evidence.

The appeal arises from a matrimonial dispute where the appellant-wife claimed that her gold jewellery (89 sovereigns) and Rs. 2,00,000 given by her fa...

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Bombay High Court Quashes Detention Order in COFEPOSA Case Due to Non-Application of Mind and Non-Supply of Documents. Nephew of detenu successfully challenged preventive detention order under Section 3(1) of COFEPOSA on grounds of procedural irregularities and lack of material evidence.

The petitioner, nephew of the detenu Salma Karolia, challenged a detention order dated 30th September 2014 issued under Section 3(1) of the Conservati...

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Bombay High Court Quashes Detention Order Under COFEPOSA Due to Non-Application of Mind and Unexplained Delay. Failure to Consider Retraction of Statement and Delay of Over 11 Months in Passing Order Vitiate Subjective Satisfaction Under Section 3(1)(i) of COFEPOSA Act, 1976.

The petitioner, Gaurav Kanak Jain, challenged a detention order dated 21st November 2016 passed under Section 3(1)(i) of the Conservation of Foreign E...

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Bombay High Court Dismisses Customs Appeal Against Acquittal in Gold Smuggling Case — Retracted Confession and Lack of Independent Witnesses Lead to Acquittal Confirmation. Section 108 Customs Act statement retracted on ground of coercion and not corroborated by independent evidence, hence not reliable.

The case involves an appeal by the Union of India against the acquittal of Narendra Ratanchand Jain (respondent no.1) for offences under the Customs A...