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High Court of Karnataka Quashes Auction Notice Issued by Town Panchayat for Lack of Authority Under Karnataka Municipalities Act, 1964. Town Panchayat Cannot Auction Property Without Statutory Power and Without Following Due Process Under Section 70 of the Act.

The petitioners, who are residents and property owners in Arkalgud Town, challenged an auction notice dated 20.09.2021 issued by the Arkalgud Town Pan...

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Supreme Court Upholds High Court in Capital Gains Tax Case — Accrual Occurs on Date of Award, Not Notification. Transfer of Capital Asset Under Section 45 of Income-tax Act, 1961 Is Complete Only When Compensation Is Determined by Collector's Award, Even if Possession Taken Earlier.

The case concerns the assessment year 1971-1972 for the assessee Amrik Singh HUF, whose land was acquired by the Haryana Government for a college play...

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Bombay High Court Partly Allows Appeal in Lease Dispute, Reduces Mesne Profits Interest Rate. Court holds that interest on mesne profits should be at 6% per annum under Section 34 CPC, not 18% as awarded by trial court.

The appellant, Bandekar Brothers Pvt. Ltd., challenged the judgment and decree dated 16.04.2009 passed in Special Civil Suit No.62/1996 by the trial c...

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Bombay High Court Directs Official Liquidator to Hand Over Possession and Pay Arrears of Rent and Taxes to Lessor in Company Liquidation. Lease Renewal Option Not Exercised, Lease Terminated, Official Liquidator Liable as Tenant at Will.

The Applicant, M/s. Hardcastle Waud Manufacturing Company Limited, is the owner of a large portion of land at Netivali Baug, Kalyan, out of which a po...

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Supreme Court Allows Assessee's Appeal, Holding Royalty Payment for Mining Lease is Revenue Expenditure. Yearly royalty of Rs. 96,000 under mining arrangement with Government deductible under Income-tax Act as it relates to raw material obtained, not capital outlay.

This appeal arose from income tax assessment proceedings for the years 1954-55 to 1956-57. The appellant, a registered firm manufacturing lime from li...