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Supreme Court Holds Customs Duty Payable on Redemption of Confiscated Goods Under Section 125 of Customs Act, 1962 — Interest Under Section 28AB Also Attracts. Redemption fine does not substitute duty; duty and interest are separate liabilities.

The Supreme Court adjudicated two questions arising under the Customs Act, 1962: whether customs duty is payable when confiscated goods are redeemed a...

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Bombay High Court Dismisses Second Appeal in Suit for Possession Based on Title — Concurrent Findings of Fact Not Interfered With. Court upholds that a co-owner can sue for possession without impleading other co-owners and that adverse possession cannot be claimed against a co-owner.

The case involves a second appeal filed by the original defendants against the concurrent decrees of the trial court and first appellate court in a su...

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Bombay High Court Allows Appeal in Bond Trustee Case — Appoints Receiver and Grants Injunction Against Alienation of Assets. Trustee entitled to protect bondholders' interests where corporate debtor defaulted on convertible bonds and attempted to transfer business to related parties.

The Bank of New York Mellon, as trustee for bondholders, filed a suit against Zenith Infotech Ltd. and others after Zenith defaulted on repayment of U...

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Bombay High Court Dismisses Revenue's Appeal in Income Tax Case — Debenture Redemption Reserve Not a Reserve Under Section 115JA of Income Tax Act, 1961. Capital Expenditure on Steel Division Treated as Revenue Expenditure as It Was Incurred for Business Purposes.

The appeal by the Revenue under Section 260A of the Income Tax Act, 1961 challenged the order of the Income Tax Appellate Tribunal (ITAT) dated 13 Feb...

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Bombay High Court Allows Redemption in Mortgage by Conditional Sale Dispute. Deed Dated 21-4-1953 Held to be Mortgage by Conditional Sale Under Section 58(c) of Transfer of Property Act, 1882, Not Sale with Condition of Repurchase.

The case involves a second appeal arising from a suit for redemption of mortgaged land. The plaintiffs (respondents) claimed that their late father, T...

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Supreme Court Upholds Redemption-Decree Holder in Mortgage Suit Under U.P. Agriculturists’ Relief Act Despite Repeal. Repeal of Relief Act Did Not Affect Pending Proceedings Due to Savings Clause in Section 6 of U.P. General Clauses Act and Section 23 of Amending Act 18 of 1956.

The dispute arose from a mortgage transaction where the successor-in-interest of the original mortgagor, the respondent, filed an application under Se...