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Supreme Court Allows Assessees in Interest Tax Act Case on Hire-Purchase Instalments. Hire-purchase agreements are distinct from loans, and interest component in instalments is not taxable under Section 2(7) of the Interest-Tax Act, 1974, as it does not constitute interest on loans and advances.

The dispute involved a batch of civil appeals concerning the tax liability of non-banking finance and leasing companies under the Interest-Tax Act, 19...

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Bombay High Court Dismisses State's Appeal in Land Acquisition Interest Case. Reference Court's Order Granting 15% Interest from Date of Application Upheld Under Section 34 of Land Acquisition Act, 1894.

The State of Maharashtra appealed against the Judgment and Order dated 26th February 1992 passed by the Reference Court of Joint District Judge at Nas...

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Bombay High Court Dismisses State's Appeal in Land Acquisition Case — Enhanced Interest Upheld. Reference Court's Order Granting 15% Interest from Date of Application for Additional Benefits Under Amended Land Acquisition Act, 1894, Affirmed.

The State of Maharashtra appealed against the order of the Reference Court (Joint District Judge, Nashik) dated 7th February 1992, which granted inter...

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Bombay High Court Dismisses State's Appeal in Land Acquisition Case. Reference Court's Order Granting 15% Interest from Date of Application Under Section 28 of Land Acquisition Act, 1894 Upheld.

The State of Maharashtra appealed against the Judgment and Order dated 24th February 1992 passed by the Reference Court (Joint District Judge, Nashik)...

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Bombay High Court Dismisses State's Appeal in Land Acquisition Case, Upholds Grant of Additional Benefits Under Amended Act. Reference Court's Order for Enhanced Interest and Solatium Upheld as Amendment Was Pending Reference.

The State of Maharashtra appealed against an order of the Reference Court (Joint District Judge, Nashik) dated 18th January 1992, which granted additi...

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Bombay High Court Dismisses State's Appeal Against Grant of Additional Benefits Under Amended Land Acquisition Act — Review Application Maintainable as Reference Was Pending on Amendment Date.

The State of Maharashtra appealed against the order of the Reference Court (Joint District Judge, Nashik) dated 18th February 1992, which granted addi...

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Bombay High Court Dismisses State's Appeal Against Grant of Additional Benefits Under Amended Land Acquisition Act. Reference Court Had Jurisdiction to Correct Award to Include Enhanced Solatium and Interest Under Amending Act 68 of 1984.

The State of Maharashtra appealed against an order of the Reference Court (Joint District Judge, Nashik) dated 19th February 1992, which granted addit...

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Bombay High Court Dismisses Acquiring Body's Appeal in Land Acquisition Compensation Enhancement. Compensation for playground land enhanced from Rs.30 to Rs.102 per sqm based on comparable sales and location advantages under Land Acquisition Act, 1894.

The appellant, Village Panchayat of Collem, challenged the judgment and award dated 13.01.2010 passed by the Reference Court in Land Acquisition Case ...