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High Court of Karnataka Dismisses Revenue's Appeal in Income Tax Case — Interest on Government Grants Held as Additional Grant, Not Taxable Income. Interest earned on grants kept in fixed deposits pending utilization is not income from other sources but part of the grant itself.

The Revenue (Commissioner of Income Tax and Assistant Commissioner of Income Tax) appealed against the order of the Income Tax Appellate Tribunal (ITA...

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High Court of Bombay at Goa Dismisses Petition Seeking CBI Investigation in Cheating Cases — No Bias or Mala Fides Established Against Investigating Agency. Police Investigation Under Section 173(8) CrPC Can Continue Even After Charge-Sheet, and Victims Have Alternative Remedies Before Magistrate.

The petitioners, eight individuals, filed a criminal writ petition under Article 226 of the Constitution of India read with Section 482 of the Code of...

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Bombay High Court Considers Section 9 Petition Seeking Renewal of Bank Guarantees Pending Section 34 Challenge to Arbitral Award. Liquidated Damages Claim in Public Utility Contract Examined for Prima Facie Case in Light of Saw Pipes and Construction & Design Services Precedents.

The proceedings arose from a contract between Oil and Natural Gas Corporation Limited (ONGC) and Afcons Gunanusa Joint Venture for construction, insta...

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Supreme Court Allows Appeals of Transmission Corporation and Regulatory Commission in Electricity Tariff Disputes. Wheeling Charges and Grid Support Charges Upheld as Valid Levies Under Andhra Pradesh Electricity Reforms Act, 1998.

The Supreme Court of India heard a batch of appeals concerning the levy of wheeling charges and grid support charges by the Transmission Corporation o...

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High Court of Karnataka Dismisses Revenue's Appeal in Income Tax Case — Tribunal's Deletion of Rental Income Addition Upheld. Rental income from property held as stock-in-trade is assessable under 'Income from House Property' and not 'Business Income' as per Section 22 of the Income Tax Act, 1961.

The present appeal was filed by the Revenue under Section 260-A of the Income Tax Act, 1961, against the order dated 27.02.2015 passed by the Income T...

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High Court of Karnataka Enhances Compensation in Motor Accident Claim Case — Multiplier Corrected and Future Prospects Added. Claimants awarded Rs.11,07,000/- with 8% interest for death of 25-year-old in road accident under Motor Vehicles Act, 1988.

The appeal arises from a motor accident claim petition filed by the legal representatives of the deceased, Ramajinappa, who died in a road accident on...