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Found 2009 result(s)

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Supreme Court Upholds Assessment of Profit from Land Transaction as Adventure in Nature of Trade. Single Transaction of Purchase and Subdivision of Estate into Plots with Resale Held to Constitute Business Profit Under Section 34(1)(a) of Income-tax Act, 1922.

The assessee, P. M. Mohammad Meerakhan, entered into an agreement on 15th August 1955 to purchase 477.71 acres of land called Kuttikal Estate for Rs. ...

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High Court of Karnataka Directs Revenue Authorities to Process Phodi Applications Without NOC from KIADB for Land Granted in 1939-40. The court held that KIADB has no jurisdiction over grants made prior to its establishment, and thus authorities cannot insist on NOC from KIADB for phodi.

The petitioners, claiming to be owners of 5 acres of land in Sy.No.1 of M.Satyawara Village, Sulibele Hobli, Hoskote Taluk, Bangalore Rural District, ...

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Bombay High Court Hears Writ Petition Challenging Taxability of Interest Received on Enhanced Motor Accident Compensation. Petitioner Claims Interest is Capital Receipt and Not Taxable; Revenue Relies on Sections 56(2)(viii) and 145A(b) of Income Tax Act, 1961.

The petitioner, a 48-year-old man rendered paraplegic and bedridden since a road accident at age 8, filed a writ petition challenging the taxability o...

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Supreme Court Dismisses Appeals in Land Acquisition Compensation Case, Upholding High Court's Market Value Assessment. The Court affirmed the compensation rates based on sale exemplars, growth factor enhancements, and appropriate deductions for development charges under the Land Acquisition Act, 1894.

The Supreme Court of India dealt with multiple civil appeals arising from a land acquisition dispute in Haryana. The proceedings were initiated for ac...

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Supreme Court Upholds Enhanced Compensation for Land Acquired Under Land Acquisition Act, 1894. Market Value Assessment Based on Auction Sale Prices with Deductions for Development Held Reasonable, Affirming High Court's Decision.

The dispute arose from cross-appeals concerning the assessment of market value for land acquired under the Land Acquisition Act, 1894, in Narsingi and...

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Bombay High Court Quashes Corrigendum Reducing Compensation under National Highways Act, 1956. Competent Authority Lacks Power to Review Award; Section 33 of Right to Fair Compensation Act Not Applicable Absent Notification Under Section 105(3).

This writ petition under Article 226 of the Constitution challenged a corrigendum issued by the Competent Authority under the National Highways Act, 1...

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Bombay High Court Dismisses Section 34 Challenge to Arbitral Award in Partnership Dispute — Upholds Award of Rs. 7.39 Crore with Interest. Limitation plea rejected as claim was within time; quantification not perverse.

The judgment concerns a Commercial Arbitration Petition under Section 34 of the Arbitration and Conciliation Act, 1996, challenging an arbitral award ...