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Madras High Court Allows Appeal in Specific Performance Suit — Agreement Holder Failed to Prove Readiness and Willingness. Continuous Readiness and Willingness Must Be Established Throughout the Period of Contract Under Section 16(c) of the Specific Relief Act, 1963.

The appeal arises from a suit for specific performance of an agreement of sale dated 10.06.2006. The plaintiff, T.K.Kandhaswamy, sought to enforce the...

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Bombay High Court Dismisses Challenge to Land Acquisition for CIDCO Project, Upholds Validity of Acquisition Under 2013 Act. Court holds that acquisition under the 1894 Act had lapsed but was validly revived under the 2013 Act, and that the Court Receiver was not in possession at the time of taking over.

The case involves three writ petitions concerning the acquisition of land bearing survey no. 59/8 at Village Asudgaon, Taluka Panvel, District Raigad,...

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Bombay High Court Allows Refund of Stamp Duty on Development Agreement Under Section 47(c)(5) of Maharashtra Stamp Act — Purpose of Instrument Failed. Development Agreement is an instrument covered under Section 47(c)(5) for refund when the purpose fails, and Section 48 is only a limitation provision.

The petitioner, M/s. Chandiwala Enterprises, a registered partnership firm, entered into a Development Agreement with Neel Ashiward CHS Ltd. on 2nd Se...

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Supreme Court Allows Appeal in Specific Performance Case — Time Was Essence of Contract; Forfeiture of Earnest Money Upheld. Breach by Buyer in Agreements to Sell Land in Gurgaon Leads to Dismissal of Suit for Specific Performance and Refund of Earnest Money.

The case involves a dispute over two agreements to sell agricultural land in Gurgaon, executed on 17.02.2004, between the appellants (sellers) and the...

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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...