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Bombay High Court Dismisses Revenue's Appeal in Income Tax Disallowance of Interest Case. Tribunal's finding that assessee had sufficient interest-free funds for investments upheld, and S.A. Builders precedent on business purpose for advances to sister concerns applied.

The case involves an appeal by the Revenue under Section 260A of the Income Tax Act, 1961, against an order of the Income Tax Appellate Tribunal dated...

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KAHC010645132024_1

The present batch of writ appeals is directed against a common order dated 26.09.2024 passed by the learned Single Judge of the High Court of Karnatak...

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High Court of Karnataka Dismisses Revenue's Appeal in Income Tax Case — Interest on Government Grants Held as Additional Grant, Not Taxable Income. Interest earned on grants kept in fixed deposits pending utilization is not income from other sources but part of the grant itself.

The Revenue (Commissioner of Income Tax and Assistant Commissioner of Income Tax) appealed against the order of the Income Tax Appellate Tribunal (ITA...

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Bombay High Court Partially Allows PWD's Challenge to Arbitral Award in Road Construction Contract Dispute. Court Upholds Damages Beyond 1% Cap Due to Contractor's Abandonment but Reduces Interest Rate from 18% to 9% Simple.

The case arises from three arbitration petitions filed by the Public Works Department (PWD) of Maharashtra under Section 34 of the Arbitration and Con...

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Bombay High Court Dismisses Petitioner's Challenge to Compensation Under Petroleum and Minerals Pipelines Act, 1962. Court upholds Competent Authority's award of compensation for right of user over land for pipeline, finding no error in market value determination or procedural compliance.

The petitioner, Gangadhar Karbhari Jadhav, filed a writ petition under Article 226 of the Constitution of India challenging the compensation awarded b...

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Full Bench of the Bombay High Court Considers Reference on Interpretation of Clauses 96 and 97 of MCGM General Conditions of Contract. The Court Examines Whether Compliance with Clause 96 is a Precondition for Invoking Arbitration under Clause 97.

The appeal arose from an arbitration petition concerning a contractual dispute between a contractor and the Municipal Corporation of Greater Mumbai (M...

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Supreme Court Allows Appeals by DISCOMs and Generating Companies in Electricity Tariff Dispute — Change in Law Compensation for Coal Shortfall Must Be Computed Based on Actual GCV and SHR as per PPAs.

The judgment involves two civil appeals concerning the determination of compensatory tariff for Change in Law events under long-term Power Purchase Ag...

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High Court Quashes Panchayat Notice Against Telecom Tower Operator for Lack of Authority Under Karnataka Panchayat Raj Act, 1993. Panchayat Cannot Interfere with Licensed Telecom Infrastructure Sharing as It Falls Under Indian Telegraph Act, 1885 and DoT Guidelines.

The petitioner, Tower Vision India Private Limited, a company registered under the Companies Act and licensed by the Ministry of Communications, Depar...