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High Court of Bombay at Goa Allows Appeal in Land Acquisition Case — Market Value Enhanced to Rs.66 per Square Metre for Konkan Railway Project. Comparable Sale Deeds of Nearby Land at Rs.64 and Rs.66 per Square Metre Form Basis for Valuation Under Section 23 of Land Acquisition Act, 1894.

The case arises from the acquisition of 23,900 square metres of land belonging to the appellant, Smt. Shrimati Vishwanath Acharya (since deceased, rep...

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Supreme Court Dismisses Chit Fund Foreman's Appeal for Recovery of Future Installments. Holds that chit subscriber's liability for future installments is a contractual obligation, not a debt in praesenti, under Chit Funds Act, 1982.

The present appeal arose from a chit fund conducted by M/s Oriental Kuries Ltd. (appellant) from 1978 to 1990. The respondents were subscribers who de...

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Supreme Court Dismisses Appeal Against Land Acquisition for Limestone Quarrying; Declaration Under Section 6(1) of Land Acquisition Act 1894 Held Conclusive Without Proof of Colorable Exercise

The dispute arose from land acquisition proceedings initiated by the State of Uttar Pradesh in 1950 for limestone quarrying. The appellant, Raja Anand...

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Supreme Court Allows Assessee in Income Tax Case — Receipt for Construction of Cinema House Not Advance Rent. Lease Lacked Stipulation for Adjustment of Payment Toward Rent; Premium Prima Facie Capital Not Taxable Under Income Tax Act.

The case involves an assessee who, on July 19, 1945, took a lease of certain premises in Calcutta on monthly rent. He made alterations to convert the ...

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High Court of Karnataka Allows Petition to Restrain Encashment of Bank Guarantee in Contract Dispute — No Concluded Contract Found. Court quashes demand letters and directs status quo, holding that without a work order, there is no concluded contract and invocation is arbitrary.

The petitioner, PG Setty Construction Technology Pvt. Ltd., a construction company, filed a writ petition under Articles 226 and 227 of the Constituti...

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Supreme Court Upholds Tax Deduction at Source on Guarantee Money Paid to Non-Resident Cricket Boards for Matches Played in India. Income from matches held in India is deemed to accrue in India under Section 9(1)(i) of the Income Tax Act, 1961, attracting TDS under Section 194E.

The case concerns an appeal by PILCOM (PAK-INDO-LANKA JOINT MANAGEMENT COMMITTEE), a committee formed by the cricket boards of Pakistan, India, and Sr...