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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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Madras High Court Disposes of Writ Petition for Compliance of Family Pension Order, Directs 6% Interest on Delayed Payment. Government Exemption from Rule 9(iii) of Tamil Nadu Village Assistant Pension Rules Allowed Arrears of Rs.2,08,224/- to Be Paid to Widow of Retired Village Assistant.

The present writ petition under Article 226 was filed by the widow of a retired Village Assistant, seeking a mandamus to compel the respondents to imp...

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Madras High Court Allows Bank's Writ Petition for Registration of SARFAESI Sale Certificate Despite Prior Sale Deeds by Mortgagor. Sub-Registrar Directed to Register Sale Certificate as Unauthorised Sales by Mortgagor Do Not Bind Secured Creditor.

The case involved a writ petition filed by Canara Bank under Article 226 of the Constitution seeking a mandamus to direct the Sub-Registrar, Kelamanga...

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Madras High Court Upholds Employees' Claim for Sick Leave Encashment in Institute of Road Transport, Following Division Bench Order. Retrospective Withdrawal of Encashment Quashed and Interest Awarded at 4% Per Annum on Delayed Payments.

The case arose from a writ petition filed by ten employees of the Institute of Road Transport (IRT) under Article 226 of the Constitution of India. Th...

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Supreme Court Adjudicates Appeals by Sahara Companies on SEBI's Regulatory Powers Over OFCDs. Case centers on Section 55A(b) Companies Act and compliance with DIP Guidelines for issuance of optionally fully convertible debentures.

The case involved two Sahara Group companies, Sahara India Real Estate Corporation Limited (SIRECL) and Sahara Housing Investment Corporation Limited ...

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Supreme Court Examines Legality of Entry Tax on Goods Imported from Abroad; State Legislations of Orissa, Bihar, Kerala and Jharkhand Under Scrutiny

Background: The case involves a batch of civil appeals before the Supreme Court concerning the levy of entry tax on goods imported from foreign countr...