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Bombay High Court Dismisses Revenue Appeal in Raymond Ltd. Tax Case — Multiple Disallowances Deleted by ITAT Upheld. Pre-operative expenses, technical know-how payments, debenture issue costs, and lease rent deductions allowed as revenue expenditure under Income Tax Act, 1961.

The Commissioner of Income Tax-2, Mumbai (Revenue) appealed against the decision of the Income Tax Appellate Tribunal (ITAT) dated 22 March 2007 for A...

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Karnataka High Court Considers Challenge Under Section 37 of Arbitration Act to Order Upholding Majority Arbitral Award. Arbitral Tribunal Had Set Aside Termination of CISP Agreement Due to Insufficient Proof of Corruption and Awarded Compensation.

The appellant, Anheuser Busch Inbev India Limited (formerly SABMiller India Limited), a beer manufacturing and brewing company, appealed under Section...

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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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Bombay High Court Allows Assessee's Appeals on Cenvat Credit for Inputs Used in Exempted Goods, Partially Allows Revenue's Appeals on Education Cess. Tractors are exempted goods despite education cess, but separate accounts are required under Rule 6 of Cenvat Credit Rules, 2004.

The judgment concerns multiple appeals filed by M/s. Mahindra & Mahindra Ltd. (Assessee) and the Commissioner of Central Excise (Revenue) against a co...

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Bombay High Court Allows Appeals Against Single Judge's Remand Order in Ceiling Surplus Land Cases. Transfers of Land After SLDT Order Held Non-Est, Rule 4 of Maharashtra Agriculture Lands Rules Inapplicable.

The appeals arose from a dispute concerning the determination of surplus agricultural land under the Maharashtra Agricultural Lands (Ceiling on Holdin...

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Bombay High Court Allows Petitioner's Petition for Extension of Bank Guarantee Pending Challenge to Arbitral Award — Section 9 of Arbitration and Conciliation Act, 1996. Post-award interim protection can be granted under Section 9 to preserve the subject matter of arbitration pending challenge to award.

The petitioner, Oil and Natural Gas Corporation Limited (ONGC), filed a petition under Section 9 of the Arbitration and Conciliation Act, 1996, seekin...

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W.A.No.3582 of 2024

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