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Gujarat High Court Allows Appeal in Motor Accident Claim Case — Interest Awarded for Interregnum Period Despite Dismissal for Non-Prosecution. Claimants entitled to interest at 7.5% per annum from date of filing till restoration as no fault attributable to them.

The present appeal arises from a judgment and award dated 18.08.2006 passed by the Motor Accident Claims Tribunal (Auxiliary), Nadiad in MACP No.186/1...

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Supreme Court Allows NCDC's Appeal in Income Tax Dispute Over Deduction of Grants as Revenue Expenditure. Grants disbursed by a statutory corporation as part of its business are deductible under Section 37 of the Income Tax Act, 1961, regardless of the capital nature of the source funds.

The National Co-operative Development Corporation (NCDC), established under the National Co-operative Development Corporation Act, 1962, is a statutor...

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Bombay High Court Dismisses Appeal Against Arbitral Award in Pipeline Construction Dispute. Court Upholds Arbitrator's Findings of Fact and Reduces Interest Rate from 18% to 12% Under Section 34 of the Arbitration and Conciliation Act, 1996.

The appellant, Mahanagar Gas Limited, awarded a work order to the respondent, M/s. Babulal Uttamchand & Co., for project management and construction o...

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Bombay High Court Dismisses Revenue's Appeal in Income Tax Disallowance of Interest Case. Tribunal's finding that assessee had sufficient interest-free funds for investments upheld, and S.A. Builders precedent on business purpose for advances to sister concerns applied.

The case involves an appeal by the Revenue under Section 260A of the Income Tax Act, 1961, against an order of the Income Tax Appellate Tribunal dated...