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Supreme Court Upholds Revenue's Treatment of Profit-Sharing Payment as Capital Expenditure under Income-tax Act, 1922. Payment of Annual Percentage of Net Profits to Seller Government for Acquisition of Industrial Undertakings Held Capital in Nature, Not Revenue Deduction Under Section 10(2)(xv).

The appellant company, Travancore Sugars and Chemicals Ltd., was formed to take over certain industrial undertakings from the Government of the erstwh...

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Supreme Court Deliberates on Employment Status of Contract Workers in Statutory Canteens Under Factories Act. The Court Examines Whether Workers Engaged by Contractor to Run Canteen Required Under Section 46 Are Deemed Employees of Principal Employer.

The appeals arose from a dispute over the employment status of casual workers employed by a contractor to run a canteen at Air India's premises. The c...

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Division Bench of Karnataka High Court Hears Challenge to Karnataka Hindu Religious Institutions and Charitable Endowments (Amendment) Act, 2011 by Temple Trusts. Petitioners Allege Amendment Is Discriminatory and Violative of Fundamental Rights Under Constitution.

The petitioners, comprising 64 Hindu religious institutions and charitable trusts from various districts of Karnataka, filed writ petitions under Arti...

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Karnataka High Court Dharwad Bench Hears Writ Petitions Challenging Constitutionality of Karnataka Hindu Religious Institutions and Charitable Endowments (Amendment) Act, 2011. Petitioners Seek to Strike Down Act as Discriminatory and Violative of Fundamental Rights.

This batch of writ petitions was instituted by several temple trusts from Uttara Kannada and Belgaum districts of Karnataka before the Dharwad Bench o...

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High Court of Bombay Considers Revision Against SEBI Special Court's Rejection of Discharge in SEBI Prosecution for Non-Payment of Penalty. Vicarious Liability of Directors Under Section 27 SEBI Act Questioned Due to Absence of Specific Averments in Complaint.

The matter arose from four Criminal Revision Applications filed before the High Court of Bombay challenging a common order of the SEBI Special Court t...