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Bombay High Court Allows Second Appeal in Mortgage Redemption Suit — Deed Held to be Mortgage by Conditional Sale, Not Outright Sale. Court reverses concurrent findings and decrees redemption with possession, applying Section 58(c) of Transfer of Property Act, 1882.

The respondent (original plaintiff) filed a suit for recovery of possession of suit land Survey No. 331/4, alleging that he had mortgaged the land to ...

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Bombay High Court Allows Second Appeal in Mortgage Redemption Suit — Finds Trial Court Erred in Holding Transaction as Mortgage by Conditional Sale. Document dated 15.7.1966 construed as out-and-out sale based on absence of debt and right of redemption.

The case involves a second appeal arising from a suit for redemption of mortgage. The original plaintiffs (respondents) filed R.C.S. No. 44/1994 in th...

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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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Bombay High Court Dismisses Second Appeals in Specific Performance Suit, Upholds Concurrent Findings of Readiness and Willingness. Agreement to Sell for Agricultural Land Held Valid and Enforceable Despite Non-Registration of Power of Attorney.

The case involves two second appeals arising from a suit for specific performance of an agreement to sell agricultural land. The plaintiff, Hiren Veni...

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Supreme Court Adjudicates Appeal by Subsequent Purchasers Against Decree of Specific Performance of Agreement to Sell. High Court's Ruling That Original Vendees Were Entitled to Specific Performance Despite Contract Termination and Subsequent Sale Is Under Review.

These appeals before the Supreme Court arose from a common judgment of the High Court of Karnataka which allowed two appeals filed by the original ven...