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Bombay High Court Allows Assessee's Appeal in Income Tax Case Regarding Deduction of Mortgage Repayment Under Section 48(i). The court held that repayment of mortgage debt is an expenditure incurred in connection with transfer of mortgaged asset, allowable under Section 48(i) of Income Tax Act, 1961.

The judgment involves two tax appeals, one by the revenue and one by the assessee, arising from a common issue regarding the allowability of mortgage ...

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Bombay High Court Allows Revenue's Appeal in Part and Assessee's Appeal on Mortgage Repayment Issue. Repayment of mortgage debt created by the assessee is an expenditure incurred in connection with the transfer of mortgaged asset allowable under Section 48(i) of the Income Tax Act, 1961.

The judgment involves two tax appeals, one by the revenue and one by the assessee, arising from a common issue regarding the allowability of repayment...

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High Court of Karnataka Examines Taxability of Solatium Component in Land Acquisition Compensation Under GST. Issue Concerns Whether Receipt of Solatium Constitutes a Service Under Entry 5(e) of Schedule II to CGST Act, 2017 or Falls Under Exempt Transfer of Land.

The case comprised a batch of five writ petitions filed before the High Court of Karnataka under Articles 226 and 227 of the Constitution of India. Th...

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Bombay High Court Dismisses Petitions Seeking Implementation of De-hiring Policy for Defence-Occupied Premises. Petitioners failed to establish legal right to enforce de-hiring policy against Union of India for flats occupied since 1944 under lease agreements.

The petitioners, Kaikobad Byramjee and Son (Agency) Private Limited and Mr. Khushrooh P. Byramjee, filed two writ petitions before the Bombay High Cou...

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High Court of Karnataka Dismisses Writ Petition Seeking Declaration of Title Over BDA Acquired Land — Petitioner Fails to Establish Possession or Title After 1971 Acquisition Notification Under City of Bangalore Improvement Act, 1945.

The petitioner, Sri Venu, filed a writ petition under Articles 226 and 227 of the Constitution of India seeking a declaration that the respondents hav...

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Supreme Court Quashes Criminal Prosecution Under Sections 420 and 471 IPC Following Settlement of Loan Account Approved by Debts Recovery Tribunal — Criminal proceedings cannot continue after compromise of civil debt where no element of cheating from inception exists.

The case involves an appeal by Vijay Kumar Kela and his proprietary firm against an order of the Chhattisgarh High Court refusing to quash criminal pr...