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Bombay High Court Allows Auction Purchasers' Petition in SARFAESI Act Case Due to Overriding Effect of Section 26E Over MVAT Act. Property Purchased in SARFAESI Auction Held Free from Prior Sales Tax Attachment Under Section 38C of MVAT Act.

The petitioners, Shailesh K. Bothra and Mukesh C. Karwa, were auction purchasers of a property sold by Cholamandalam Investment & Finance Co. Ltd. (pe...

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Bombay High Court Dismisses Writ Petition Challenging SARFAESI Auction Sale Due to Alternative Remedy and Suppression of Facts. Petitioner, a Director and Shareholder of Mortgagor Company, Failed to Disclose Rejection of OTS and Auction Sale, Leading to Dismissal with Costs.

The petitioner, Ms. Archana Wani, a director and shareholder of respondent No. 5 (N. Kumar Housing and Infrastructures), filed a writ petition under A...

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Bombay High Court Rules in Favor of Insurance Corporation on Deduction of Bad Debt Reserve. Held That Crediting Reserve for Doubtful Debts Constitutes Write-Off Under Section 36(1)(vii) of Income Tax Act, 1961, and Rule 5(a) of First Schedule Does Not Apply.

In this appeal before the Bombay High Court, the assessee, a general insurance corporation, challenged the Income Tax Appellate Tribunal's decision re...

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Bombay High Court Dismisses Revenue's Application for Reference in Co-operative Bank Deduction Case. Interest on Government Securities Earmarked Against Statutory Reserve Fund Held Eligible for Deduction Under Section 80P(2)(a)(i) of the Income Tax Act, 1961.

The case involves an application under section 256(2) of the Income Tax Act, 1961, filed by the Commissioner of Income Tax, Mumbai City III, against t...

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Supreme Court Allows Appeal in Bond Redemption Dispute, Upholding Defendant's Compliance with RBI Directives. Interest on Delayed Payment Not Payable Due to Regulatory Embargo and Pending Liquidation Proceedings Under Companies Act, 1956.

The dispute arose from a suit filed by M/s. SIBCO Investment Pvt Ltd against Small Industries Development Bank of India seeking interest on alleged be...

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Supreme Court Allows OBC Female Candidates in UP Police Constable Recruitment to Be Selected in General Category Based on Merit. Horizontal Reservation Principle Applied Equally to Female Candidates, Directing State to Consider OBC Females Scoring Above General Female Cut-Off.

The case pertains to a Miscellaneous Application filed by Ms. Sonam Tomar (OBC-Female) and Ms. Reeta Rani (SC-Female) who participated in the 2013 sel...