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WRIT PETITION NO. 4987 OF 2022

The petitioners, landowners from village Vhanur, Taluka Kagal, District Kolhapur, filed writ petitions under Article 226 of the Constitution of India ...

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Bombay High Court Dismisses Assessee's Appeal, Upholds Applicability of Section 50C to Transfer of Leasehold Rights. Leasehold Rights Constitute Capital Asset and Assignment Thereof Attracts Section 50C Deeming Provision.

The appeal arose from an order of the Income Tax Appellate Tribunal, Nagpur dated 24.03.2017 dismissing the assessee's claim that Section 50C of the I...

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Supreme Court Upholds Validity of Section 17(2)(viii) of Income Tax Act and Rule 3(7)(i) of Income Tax Rules in Bank Employee Loan Perquisite Case. Delegation of Power to Prescribe Fringe Benefits Held Not Excessive and Use of SBI Prime Lending Rate as Benchmark Upheld as Non-Arbitrary.

The Supreme Court, in a common judgment, dismissed appeals filed by staff unions and officers' associations of various banks challenging the constitut...

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Bombay High Court Dismisses Defamation Suit Against Advocate for Sending Complaint to Cooperative Registrar. Communication to Registrar Held Not 'Publication' as It Lacked Intent to Harm Reputation and Was Privileged Under Exception 9 to Section 499 IPC.

The plaintiffs, members of a cooperative housing society, filed a defamation suit against Defendant No.1 (a fellow member) and Defendant No.2 (her adv...

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Bombay High Court Sanctions Scheme of Arrangement for Cairn India Limited with Foreign Subsidiaries Under Sections 391 and 394 of the Companies Act, 1956. The court approved the transfer of Indian undertakings from four foreign subsidiaries to the Indian listed company to simplify corporate structure.

The petitioner, Cairn India Limited, a company incorporated under the Companies Act, 1956 and listed on Indian stock exchanges, filed a petition under...