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Supreme Court Clarifies Deduction of Broken Period Interest for Banks Treating Securities as Stock-in-TradeDeduction Allowed as Revenue Expenditure for Banks Holding Securities as Stock-in-Trade

The Supreme Court addressed the treatment of broken period interest for tax purposes. The issue centered on whether broken period interest could be de...

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Supreme Court Dismisses Appeal in Ejectment Case Under Punjab Security of Land Tenures Act, 1953. Civil Suit Not Barred Under Section 25 as Revenue Court Order Was Without Jurisdiction Due to Absence of Landlord-Tenant Relationship and Invalid Sale of Trust Property.

The Supreme Court of India heard a civil appeal arising from a dispute over ejectment of a tenant from agricultural land. The appellants, claiming to ...

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Supreme Court Upholds State's Power to Fix Higher Sugarcane Price in Conflict Resolution Between Constitution Benches. State Advised Price (SAP) is Valid and Not Repugnant to Central Minimum Price Under Essential Commodities Act, 1955 and Sugarcane (Control) Order, 1966.

The Supreme Court considered a reference from a three-judge bench regarding an alleged conflict between two Constitution Bench decisions: Ch. Tika Ram...

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Supreme Court Dismisses Appeal in Specific Performance Suit Barred by Order 2 Rule 2 CPC. Plaintiff's Omission to Seek Leave for Subsequent Suit for Specific Performance After Earlier Injunction Suit Results in Bar.

The appeal arises from a judgment of the Bombay High Court (Nagpur Bench) in a Second Appeal, which upheld the concurrent findings of the Trial Court ...

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Bombay High Court Dismisses Revision Against Rejection of Plaint Rejection Application in Partition Suit. Order IX Rule 9 CPC Bar Not Applicable When Earlier Suit Dismissed for Default Without Adjudication on Merits.

The case involves a Civil Revision Application filed by the original defendant, Chandrakant Bhaurao Waghmare, challenging an order dated 29.04.2019 pa...

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Bombay High Court Dismisses Revenue's Appeal in Service Tax Case on Bifurcation of Interest and Service Charges. Tribunal's finding that no service tax liability arises prior to 01.03.2006 due to absence of mechanism for bifurcation of value of service from interest amount upheld.

The appeal was filed by the Commissioner of CGST & Central Excise under Section 35G of the Central Excise Act, 1944, challenging the order of the Cust...

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Bombay High Court Allows Appeal in Cheque Dishonour Case, Sets Aside Acquittal. Presumption under Section 139 of Negotiable Instruments Act, 1881 applies when signature on cheque is admitted, shifting burden on accused to rebut existence of debt.

The appellant, Bapurao s/o Motiram Mankar, a senior citizen, filed a complaint under Section 138 of the Negotiable Instruments Act, 1881 against respo...

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Bombay High Court Allows Petition of Credit Society Challenging Collector's Order Imposing Stamp Duty on Transfer Under Section 100 of Maharashtra Cooperative Societies Act. Transfer Under Section 100 Is Not a Sale or Conveyance, Hence Article 25 of Bombay Stamps Act Not Attracted.

The petitioner, Chhatrapati Sambhaji Maharaj Sahakari Patsanstha Maryadit, a credit society registered under the Maharashtra Cooperative Societies Act...

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Bombay High Court Dismisses Second Appeal in Specific Performance Suit — Concurrent Findings of Fact Not Interfered With. Agreement to Sell Not Proved as Plaintiff Failed to Show Readiness and Willingness Under Section 16(c) of Specific Relief Act, 1963.

The present second appeal was filed by the original plaintiffs (appellants) challenging the concurrent judgment and decree passed in Special Civil Sui...