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Supreme Court Allows NCDC's Appeal in Income Tax Dispute Over Deduction of Grants as Revenue Expenditure. Grants disbursed by a statutory corporation as part of its business are deductible under Section 37 of the Income Tax Act, 1961, regardless of the capital nature of the source funds.

The National Co-operative Development Corporation (NCDC), established under the National Co-operative Development Corporation Act, 1962, is a statutor...

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Supreme Court Allows FCI Appeal in Property Tax Exemption Case — Holds That Occupier of Central Government Property Is Not Liable Under Article 285(1) When Ownership Vests in Union. Bombay High Court Erred in Relying on Section 146 of MMC Act Without Considering Ownership Status.

The Supreme Court allowed the appeals filed by the Food Corporation of India (FCI) against the judgment of the Bombay High Court dated 05.05.2016 and ...

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Bombay High Court Dismisses Petition Challenging Arbitral Award in Demurrage Dispute. Charter Party Agreement's Demurrage Clause Upheld as Petitioner Failed to Prove Excepted Perils.

The petitioner, Steel Authority of India Limited (SAIL), challenged an arbitral award under Section 34 of the Arbitration and Conciliation Act, 1996, ...

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Bombay High Court Dismisses Trade Union's Petition Challenging Rejection of Interim Relief in Transfer Dispute. Industrial Court's Refusal to Stay Transfer Orders Upheld as No Prima Facie Case of Unfair Labour Practice Established Under MRTU and PULP Act.

The petitioner, Engineering Workers Association, a registered trade union, filed a writ petition under Articles 226 and 227 of the Constitution of Ind...