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Supreme Court Dismisses Assessee's Appeal in Income Tax Case Regarding Exemption Under Section 4(3)(vii) of Income-tax Act, 1922. Receipt Held to be Business Income, Not Exempt as Casual or Non-Recurring Receipt, as it Arose from Services Rendered in the Course of Business.

The assessee firm, Ram Kumar Agarwalla and Brothers, carried on business as share brokers and paper merchants. Together with D, a chartered accountant...

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High Court of Bombay at Goa Allows Appeals in Land Acquisition Compensation Case — Enhances Compensation for Acquired Agricultural Land. Market value determined based on comparable sale instances and potential for development, applying multiplier method under Land Acquisition Act, 1894.

The case involves two appeals arising from a common judgment and award dated 10th September 2003 passed by the Additional District Judge, Mapusa, in L...

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Bombay High Court Dismisses Petitions Challenging Land Acquisition for Public Purpose Under Land Acquisition Act, 1894 — Held That Acquisition for Housing and Rationing Offices Serves Public Purpose and Compensation Determined Under Act Is Adequate.

The judgment pertains to two writ petitions filed by Reliance Industries Ltd. and Express Newspapers Ltd. challenging the acquisition of their land by...

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Bombay High Court Allows Appeal by Acquiring Body in Land Acquisition Compensation Case — Reference Court's Award Set Aside for Lack of Reasoning. The Court held that the Reference Court must provide reasons based on evidence for enhancing compensation under the Land Acquisition Act, 1894.

The appeal was preferred by the acquiring body, Vidarbha Irrigation Development Corporation, challenging the judgment and award dated 22.4.2002 passed...

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Bombay High Court Dismisses Petition Challenging Industrial Court Order in Unfair Labour Practice Complaint. Employees of Transferred Bank Not Entitled to Pay Revision Under MOU and Settlement.

The petitioners, originally employees of Kolhapur Janata Sahakari Bank Ltd., challenged a judgment of the Industrial Court at Kolhapur dismissing thei...