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Supreme Court Allows Assessees' Appeals in Interest Tax Dispute on Hire-Purchase Transactions. The interest component in hire-purchase instalments is not taxable under Section 2(7) of the Interest-Tax Act, 1974 as hire-purchase transactions are not loans or advances.

The Supreme Court allowed the appeals filed by M/s Muthoot Leasing and Finance Limited and other assessees, setting aside the judgment of the Kerala H...

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High Court of Bombay Dismisses Challenge to Majority Arbitral Award in Insurance Dispute — JSW Steel Ltd. v. ICICI Lombard General Insurance Company Ltd. — Challenge to Rejection of Claims Under Fire, Marine, and Business Interruption Policies Dismissed as No Patent Illegality Found.

The Petitioner, JSW Steel Ltd., engaged in steel manufacturing, had insured its plant at Toranagallu, Karnataka, under five insurance policies issued ...

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Karnataka High Court Allows Daughters' Partition Appeal in Hindu Succession Act Case — Daughters Entitled to Equal Share Despite Earlier Partition Deed. Daughters' right to partition upheld as the earlier partition deed was not binding on them under Section 6 of the Hindu Succession Act, 1956.

The appeal arises from a judgment and decree dated 13.12.2016 passed by the II Additional Senior Civil Judge and JMFC, Tumakuru, in O.S.No.10/2014, di...

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Bombay High Court Dismisses Summons for Judgment in Summary Suit for Recovery of Project Management Fees. Agreement for Development of Property by Family Members Not a Commercial Transaction Entitling Summary Procedure Under Order 37 CPC.

The plaintiff, Satchi Development Company Pvt. Ltd., filed a summary suit under Order 37 of the Code of Civil Procedure, 1908, for recovery of ₹3,70...