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Bombay High Court Upholds Plaintiff in Suit for Declaration and Possession — Agreement for Sale Terminated Due to Dishonoured Post-Dated Cheques. Defendants' Claim of Protected Tenancy and Part Performance Rejected as They Failed to Pay Balance Consideration.

The suit pertained to an agreement for sale of a flat and garage at 'Asha Mahal', Pedder Road, Bombay. The plaintiff, Yuvrani Hansa Devi, had initiall...

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Supreme Court Clarifies Deduction of Broken Period Interest for Banks Treating Securities as Stock-in-TradeDeduction Allowed as Revenue Expenditure for Banks Holding Securities as Stock-in-Trade

The Supreme Court addressed the treatment of broken period interest for tax purposes. The issue centered on whether broken period interest could be de...

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Bombay High Court Allows Petition for Interest on Delayed Retiral Benefits to Exonerated Employee — Rule 55A(7) of Pension Rules, 1953 Deems Payment Due from Retirement Date, Not Exoneration Date, and Interest Is Payable Without Proving Administrative Lapse.

The petitioner, Narayan Pundalik Pathade, a retired employee of the Municipal Corporation of Greater Mumbai (MCGM), filed a writ petition under Articl...

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Supreme Court Dismisses Petition Challenging OROP Policy Implementation for Ex-Servicemen. Periodic Revision Every Five Years Upheld as Not Arbitrary Under Articles 14 and 21 of the Constitution of India.

The dispute arose from a petition under Article 32 of the Constitution challenging the implementation of the One Rank One Pension (OROP) policy for ex...

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Supreme Court Allows Secured Creditor's Appeal in Customs Duty Priority Dispute Over Wound-Up Company's Hypothecated Goods. Held that customs authorities do not have priority over secured creditors under Section 529A of Companies Act, 1956 for sale of warehoused goods under Customs Act, 1962.

The appeal by Industrial Development Bank of India (IDBI) challenged the judgment of the Andhra Pradesh High Court which held that customs authorities...