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Bombay High Court Allows Appeal in Income Tax Derivative Loss Set-off Case. Loss from derivatives trading on recognized stock exchange held not speculative under Section 43(5)(d) of Income Tax Act, 1961, and can be set off against other business income under Section 70.

The appellant, Souvenir Developers (I) Pvt. Ltd., is a domestic company deriving income from toll collection business and also trading in shares and d...

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High Court of Bombay at Goa Allows Writ Petition of Retired Judicial Member of Railway Claims Tribunal — Notification Denying Pension Quashed as Ultra Vires and Unconstitutional. Pension is a right under Article 300A and denial without authority of law is arbitrary and violative of Articles 14 and 16.

The petitioner, Prabhakar H. Parab, a retired Judicial Member of the Railway Claims Tribunal, filed a writ petition under Article 226 of the Constitut...

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Bombay High Court Allows Writ Petition of Tendu Leaves Contractors Association for Exemption from TCS under Section 206C(1A) of Income Tax Act, 1961. Contractors engaged in trading of forest produce are not liable to tax collection at source as they are not 'buyers' under the provision.

The petitioner, Gondia Beedi Leaves Contractors Association, representing contractors of Tendu leaves (a forest produce), filed a writ petition before...

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Bombay High Court Dismisses Petitions Challenging Selection of Assistant Deputy Education Inspectors. Non-Communication of Selection Criteria Does Not Vitiate Selection Process in Absence of Statutory Requirement.

The case involves a group of writ petitions filed by candidates who were selected for the post of Assistant Deputy Education Inspector (ADEI) by the R...

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Bombay High Court Allows Petitions Challenging MCOCA Application for Lack of Continuing Unlawful Activity. Court holds that isolated past offences without material showing ongoing criminal activity cannot attract provisions of Maharashtra Control of Organized Crime Act, 1999.

The petitioners, Appa @ Prakash Haribhau Londhe and Uttam Ramchandra Hole, filed separate criminal writ petitions challenging the applicability of the...

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Bombay High Court Allows Appeal in Specific Performance Suit — Sets Aside Dismissal for Default and Restores Suit on Condition of Costs. Advocate's Mistake in Noting Date Constitutes Sufficient Cause Under Order IX Rule 9 CPC.

The present appeal arises from an order dated 20/12/2023 passed by the City Civil Court, Dadri, dismissing the appellants' (original plaintiffs') suit...