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Supreme Court Dismisses Appeal of NBFC in Income Tax Dispute on Set-off of Speculation Loss. Principal Business Determined by Actual Activities, Not Registration; Amendment to Explanation to Section 73 Held Prospective.

The appeal arose from a judgment of the Calcutta High Court in an appeal under Section 260A of the Income Tax Act, 1961, concerning the assessment yea...

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Bombay High Court Quashes Reassessment Order in MVAT Case Due to Limitation and Lack of Natural Justice. Inter-State Stock Transfer Not a Sale Under MVAT Act, 2002; Reassessment Beyond 4-Year Limitation Period Invalid.

The petitioner, M/s. United Spirits Limited, a company engaged in the manufacture and sale of alcoholic beverages, filed a writ petition challenging a...

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Bombay High Court Allows Writ Petition Challenging MRT Order in Tenancy Dispute — Petitioner's Father Held Deemed Purchaser Under Section 32G of Maharashtra Tenancy and Agricultural Lands Act, 1948. Sale Deed Executed After Tillers Day Declared Void as Tenant Continued in Possession.

The dispute pertains to an agricultural land Survey No. 70/1 (New Gat No.199) in Village Sudawadi, Maval, Pune. The land was originally owned by Vitth...

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Bombay High Court Dismisses Election Petition Challenging BJP Candidate's Victory in Dahisar Assembly Constituency. Allegations of Corrupt Practice Under Section 123(1) of Representation of the People Act, 1951 Fail as Petitioner Fails to Prove Bribery or Undue Influence.

The Petitioner, Vinod Ramchandra Ghosalkar, was the Shiv Sena candidate for the Dahisar Assembly Constituency in the 2014 Maharashtra Legislative Asse...