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Bombay High Court Allows Assessee's Appeal on Proportional Increase of Advertisement Limit and Deductibility of Statutory Fund Transfer. Holds that Section 37(3A) limit must be proportionately increased for extended previous year and transfer to statutory storage fund is deductible under Section 37(1).

This judgment by the Bombay High Court addresses four questions of law referred by the Income Tax Appellate Tribunal under Section 256(1) of the Incom...

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Supreme Court Upholds Revenue's Treatment of Profit-Sharing Payment as Capital Expenditure under Income-tax Act, 1922. Payment of Annual Percentage of Net Profits to Seller Government for Acquisition of Industrial Undertakings Held Capital in Nature, Not Revenue Deduction Under Section 10(2)(xv).

The appellant company, Travancore Sugars and Chemicals Ltd., was formed to take over certain industrial undertakings from the Government of the erstwh...

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Supreme Court Allows Appeal in Electricity Duty Case Due to Statutory Interpretation. Levy Under Bihar Electricity Duty Act 1948 Not Applicable as Supply Was to Licensee, Not Consumer as Defined Under Sections 2(b) and 2(ee).

The appeal arose from a judgment of the Patna High Court dated 18 September 2017, which declined to entertain a writ petition filed by the appellant, ...

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Bombay High Court Allows Loss Deduction for Confiscated Foreign Currency in Income Tax Reference. Foreign currency confiscated by customs authorities under FERA held allowable as business loss under Income Tax Act, 1961, even though treated as undisclosed income.

The case involves an income tax reference by the Revenue against the order of the Income Tax Appellate Tribunal (ITAT) for the assessment year 1982-83...

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Bombay High Court Holds That Power Under Section 60 of Maharashtra Police Act, 1951 Is Quasi-Judicial and Requires Speaking Orders. The appellate authority must assign reasons while disposing of appeals under Section 60 of the Maharashtra Police Act, 1951.

The case arose from a reference made by a Division Bench of the Bombay High Court (Coram: Nitin Jamdar & Sarang V. Kotwal, JJ.) which did not agree wi...

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High Court Dismisses Second Appeal in Land Dispute - Heirs of Appellant Fail to Restore Permanent Injunction Decree - Appellate Court's Modification of Injunction Upheld Under CPC

The High Court dismissed a Second Appeal in a land dispute case where the appellants sought restoration of a Trial Court decree granting permanent inj...

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Bombay High Court Cancels Bail Granted Under Section 437(6) CrPC for Non-Completion of Trial Within 60 Days of Charge Framing. The court held that the Magistrate failed to consider the prosecution's application for further investigation under Section 173(8) CrPC, which justified the delay in trial.

The applicant, UT Worldwide India Pvt. Ltd., filed five criminal applications seeking cancellation of bail granted to respondent no. 2 (the accused) b...