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Bombay High Court Allows Revenue Appeals in Part, Remands for Fresh Consideration of Exemption Under Section 10(23C)(iiiab) of Income Tax Act, 1961 — Tribunal's Order Set Aside for Not Considering Whether Assessee is Wholly or Substantially Financed by Government.

The case involves three appeals filed by the Revenue under Section 260A of the Income Tax Act, 1961, challenging two orders of the Income Tax Appellat...

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Bombay High Court Upholds Constitutional Validity of Sections 14 and 17 of Maharashtra Slum Act in Land Acquisition Challenge. Challenge to Acquisition Under Section 14 and Award Under Section 17 Rejected as Provisions Held Intra Vires Constitution.

The petitioners, Nenshi Monji (Bombay), a Family Trust and Others, filed a writ petition under Article 226 of the Constitution challenging the acquisi...

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Bombay High Court Dismisses Appeal by Guarantors in SFC Act Recovery Case — Directors Held Jointly and Severally Liable for Company Loan. Guarantors Cannot Raise Defences of Principal Debtor Under Section 31(1)(aa) of State Financial Corporation Act, 1951.

The appeal arises from a judgment dated 19th September 2007 passed by the learned Adhoc District Judge, Pune, in Miscellaneous Civil Petition No.859 o...