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Supreme Court Allows NCDC's Appeal in Income Tax Dispute Over Deduction of Grants as Revenue Expenditure. Grants disbursed by a statutory corporation as part of its business are deductible under Section 37 of the Income Tax Act, 1961, regardless of the capital nature of the source funds.

The National Co-operative Development Corporation (NCDC), established under the National Co-operative Development Corporation Act, 1962, is a statutor...

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Bombay High Court Dismisses Petitions Challenging Reduction of Superannuation Age from 60 to 58 for Employees of Government Mining Corporation. State as Sole Shareholder Can Amend Service Rules Unilaterally Without Employee Consent.

The petitioners, employees of Maharashtra State Mining Corporation Ltd. (a Government company), challenged the State Government's decision to reduce t...

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Bombay High Court Allows Fishermen Cooperative's Petition Against Demolition of Fishermen Huts in Coastal Zone. Court Holds That Traditional Fishing Communities Have Customary Rights to Occupy Foreshore Land for Livelihood, Subject to Environmental Clearances Under CRZ Notification, 2011.

The petitioner, Mariyayi Macchimaar Sahkari Sanstha Maryadit, a cooperative society of traditional fishermen, filed a writ petition challenging the pr...

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Bombay High Court Allows Petition Challenging SEIAA's Deferral of Environmental Clearance Based on NGT Judgment. SEIAA Must Independently Apply Mind to Each Proposal and Cannot Mechanically Defer Decisions Due to NGT's Order on Recreational Ground.

The Petitioner No.1, NAREDCO West Foundation, is the Maharashtra chapter of the National Real Estate Development Council, representing over 400 real e...

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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...