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Supreme Court Allows Assessees' Appeals in Interest Tax Dispute on Hire-Purchase Transactions. The interest component in hire-purchase instalments is not taxable under Section 2(7) of the Interest-Tax Act, 1974 as hire-purchase transactions are not loans or advances.

The Supreme Court allowed the appeals filed by M/s Muthoot Leasing and Finance Limited and other assessees, setting aside the judgment of the Kerala H...

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Bombay High Court Dismisses Employer's Challenge to Arbitral Award on Royalty Reimbursement. Award's Interpretation of 'Any Further Increase' Clause as Covering Royalty Charges Upheld as Reasonable Under Section 34 of Arbitration and Conciliation Act, 1996.

The Maharashtra State Road Development Corporation Ltd. (MSRDC), a Government of Maharashtra undertaking, had awarded a contract for four-laning of a ...

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Bombay High Court Dismisses LPG Distributor's Challenge Against Discontinuation of Home Delivery Charges Beyond Contract Territory. Principle of Legitimate Expectation Cannot Be Invoked Against Statutory Policy or When No Representation Was Made by the Authority.

The petitioner, M/s Jay Gas Agency, a proprietorship firm represented by Sneha Vilas Kulkarni, was appointed as an LPG distributor by Hindustan Petrol...

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Bombay High Court Issues Judgment in Writ Petition for Refund of Interest Under Customs Act, 1962. Petition Seeks Refund of Interest Allegedly Illegally Recovered Without Issuing Notice Under Section 59(1) of the Customs Act.

The dispute arose from the import of spices by the petitioners, fourteen proprietary firms, who faced a refusal from the customs authorities to clear ...

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Bombay High Court Quashes VIDC Circular Imposing 5% TDS on Contractors Without Statutory Authority. Circular No. 9 dated 17.02.2020 directing deduction of 5% TDS from contractor bills held ultra vires the Income Tax Act, 1961 and the VIDC Act.

The petitioner, M/s Musale Constructions, a partnership firm engaged in construction business, filed three writ petitions challenging Circular No. 9 d...

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Bombay High Court Dismisses PIL Against National Sports Club of India Construction, Upholding Environmental and Municipal Permissions. Court finds no violation of CRZ or heritage regulations and rejects allegations of illegal construction as motivated by private interests.

The petitioner, Society for Promotion of Equality, Awareness and Rights (SPEAR), filed a Public Interest Litigation before the Bombay High Court seeki...