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Supreme Court Allows Appeal in Income Tax Deduction Case for Accrued Development Liability. Deduction for Estimated Future Development Expenses Allowed Under Section 10(1) of Indian Income-tax Act, 1922, as Liability Was Accrued, Not Contingent.

The dispute concerned the income tax assessment of a land-developing company that followed the mercantile method of accounting. The appellant, Messrs....

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Supreme Court Examines Condonation of Delay by Karnataka Housing Board under Limitation Act. High Court's Order Condoning 3966-Day Delay in Filing Second Appeal is Scrutinized on Grounds of State Lethargy and Sufficient Cause.

The appeal before the Supreme Court arose from a judgment of the High Court of Karnataka condoning a delay of 3966 days in filing a second appeal by t...

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Bombay High Court Considers Confirmation of Death Sentence and Appeal in Familial Homicide – Accused Claims Exception Under Section 300 IPC for Grave and Sudden Provocation Based on Alleged Impotency Remarks.

The case arose from a reference made by the Additional Sessions Judge-4, Solapur under Section 366 of the Code of Criminal Procedure, 1973 for confirm...

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Supreme Court Dismisses PIL Seeking National Plan Under Disaster Management Act for COVID-19 Pandemic. Existing National Disaster Management Plan and Funds Held Sufficient for Pandemic Response.

The writ petition was filed as a public interest litigation by the Centre for Public Interest Litigation seeking directions to the Union of India to p...

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Bombay High Court Upholds Injunction Against Developer in Property Dispute Over Unregistered Agreement. Court Restrains Construction on Suit Properties Pending Suit, Holding That Unregistered Agreement of Sale Cannot Confer Title or Right to Develop.

The appellant, Lodha Estate Private Limited, challenged an order of injunction passed by the trial court in Special Civil Suit No. 186/2011. The respo...

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Bombay High Court Allows Writ Petition Challenging SARFAESI Act Possession Notice — Bank Directed to Consider One-Time Settlement Offer. Failure to Consider OTS Proposal Before Taking Possession Violates Principles of Fairness and Natural Justice Under Section 13(2) of SARFAESI Act, 2002.

The petitioner, Surendra Nikose, had availed a housing loan from the State Bank of India (respondent). Due to financial difficulties, he defaulted on ...

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Bombay High Court Allows Petition Challenging Stamp Duty Assessment on Flat Purchase Agreements. Agreements for sale of flats in a building under construction are agreements to sell, not conveyances, and stamp duty is to be assessed on the consideration stated in the agreement, not on market value.

The petitioner, M/s. Padmavati Construction Co., a partnership firm, was developing a plot of land in Chembur, Mumbai. The registered owner, Bombay Co...

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Bombay High Court Quashes Reassessment Notice in Income Tax Case for Lack of Fresh Material. Reopening of Assessment Under Section 147/148 of Income Tax Act, 1961 Based on Mere Change of Opinion Without New Tangible Material is Invalid.

The petitioner, M/s. Crown Consultants Pvt. Ltd., a share and stock broker, filed its return of income for assessment year 2007-08 on 30 October 2007 ...