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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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High Court Quashes Termination of Temporary Employee for Misconduct Without Inquiry. Termination Order Found to be a Camouflage for Punishment; Reinstatement with 50% Back Wages Ordered Under Service Law.

The petitioner, an Accountant appointed on temporary basis in the Town Municipal Council, Badami, was terminated from service on 27-07-2018. She had b...

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Bombay High Court Allows Appeal by Air India, Upholds Dismissal of Air Hostess for Unauthorized Absence After Maternity Leave. The court held that the Industrial Tribunal's order of reinstatement was perverse and that the employer's decision to dismiss was justified under the Model Standing Orders.

The litigation between Air India Limited (appellant) and Ms. Shashikala Jatav (respondent) has been ongoing for two decades. The respondent was employ...

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Supreme Court Partially Allows Appeal in Recovery Suit Against Sick Industrial Company — Suspension of Proceedings Under Section 22(1) of SICA Does Not Bar Suit for Unadmitted Debt. High Court's Grant of 24% Compound Interest Reduced to 12% Simple Interest.

The case involves a dispute between Fertilizer Corporation of India Ltd. (FCIL), a public sector undertaking, and M/s Coromandal Sacks Private Limited...

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Bombay High Court Grants Bail to Senior Police Inspector in Mansukh Hiran Murder Case - No Prima Facie Evidence of Conspiracy Under UAP Act. Court held that mere meetings and use of benami SIM card without corroboration do not establish criminal conspiracy under Sections 16, 18, 20 of UAP Act, 1967.

The appellant, Sunil Dharma Mane, a Senior Inspector of Police, was arrested on 23 April 2021 in connection with the murder of Mansukh Hiran and relat...

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Supreme Court Allows State Appeal Against Review of Concurrent Findings in Forest Land Dispute Under Andhra Pradesh Forest Act, 1967. High Court Exceeded Review Jurisdiction by Re-appreciating Evidence and Setting Aside Concurrent Findings of Fact.

The Supreme Court allowed the appeal filed by the State of Telangana against the judgment of the High Court of Judicature at Hyderabad, which had revi...

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"Supreme Court Clarifies Legislative Competence on Alcohol Regulation: Potable vs Industrial Alcohol" "A landmark judgment addressing the scope of State and Union powers on regulating alcohol under the Indian Constitution."

The Supreme Court of India revisited the legislative competence concerning the regulation of alcohol under the Constitution. The court examined whethe...

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"Supreme Court Affirms Need for Minority Establishment in AMU’s Minority Status Dispute" AMU’s Minority Status Under Scrutiny: Establishment by Legislature Versus Minority Founding Rights

The Supreme Court judgment in Aligarh Muslim University v. Naresh Agarwal & Ors. primarily deals with the issue of minority rights in education, f...