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Supreme Court Dismisses Appeals in Stamp Duty Valuation Case, Upholding Company Court's Authority. Stamp Duty Calculation Based on Court-Fixed Valuation of Rs. 1.4 Crores for Immovable Property Sold Under Judicial Supervision, Not on Higher Auction Bid of Rs. 1.935 Crores.

The Supreme Court considered appeals concerning the calculation of stamp duty on immovable property sold through auction under the supervision of the ...

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Bombay High Court Allows Revenue's Appeal in Income Tax Case on Interest Income Classification. Interest income from bank deposits, intercorporate deposits, call money, debentures, and from Income Tax Department held not to be business income for deduction under Section 80HHC of the Income Tax Act, 1961.

The Revenue Department filed appeals under Section 260-A of the Income Tax Act, 1961 against the orders of the Income Tax Appellate Tribunal (ITAT) fo...

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Bombay High Court at Goa Allows Petitioner to Lead Evidence in Civil Suit Despite Closure Order, Imposing Costs for Dilatory Conduct. The court set aside the trial court's order closing evidence of PW1, granting one final opportunity with costs of Rs. 5,000 to each respondent.

The petitioner, Ignatius Tony Pereira, filed a writ petition challenging an order dated 2.9.2016 passed by the learned Civil Judge, Senior Division, V...

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Bombay High Court Allows Writ Petition Challenging Auction Sale Confirmation in Cooperative Bank Recovery Proceedings. Vested Right in Auction Purchaser Not Accrued Until Sale Confirmation by Competent Authority Under Maharashtra Cooperative Societies Act, 1960.

The petitioner, Aniruddha Sadashiv Pande, a journalist from Yavatmal, had taken a loan from the Yavatmal Urban Cooperative Bank Ltd. (respondent no.3)...

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High Court of Karnataka Allows Appeal by Liquidator in Recovery Suit Against Bank for Wrongful Payment After Liquidation — Bank Liable to Pay Fixed Deposit Amount to Liquidator Despite Payment to Company Director After Winding Up.

The plaintiff, Gowribidanur Sahakara Sakkare Karkhane Ltd., a co-operative society under liquidation, filed a suit for recovery of money against India...