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High Court

Madras High Court Allows Appeal in Income Tax Case — Advances Written Off as Business Loss Under Section 37(1) of Income Tax Act, 1961. Court holds that advances given in the course of construction business, which become irrecoverable and written off, are allowable as business loss under Section 37(1) even if not claimed as bad debt under Section 36(1)(vii).

22 Jan 2026

The appellant, M/s. Deccan Estates, a builder, entered into a joint venture agreement on 10.12.1995 with landowners for development of a project named...

High Court

Madras High Court Allows Appeal in Income Tax Case — Advances Written Off as Business Loss Under Section 37(1) of Income Tax Act, 1961. Court holds that advances given in the course of construction business, which become irrecoverable and written off, are allowable as business loss even if not claimed as bad debt under Section 36(1)(vii).

22 Jan 2026

The appellant, M/s. Deccan Estates, a builder, entered into a joint venture agreement on 10.12.1995 with landowners for development of a property name...

High Court

Madras High Court Allows Appeal in Income Tax Case — Advances Written Off as Business Loss Under Section 37(1) Allowed Despite Bad Debt Claim Under Section 36(1)(vii) Being Time-Barred. Court holds that advances given in the course of construction business which become irrecoverable and written off in books of account are allowable as business loss under Section 37(1) of the Income Tax Act, 1961, even if the claim under Section 36(1)(vii) fails due to non-compliance with Section 36(2).

22 Jan 2026

The appellant, M/s. Deccan Estates, a builder, entered into a joint venture agreement on 10.12.1995 with landowners for development of a property name...

High Court

Bombay High Court Allows Recovery Suit for Price Paid for Undelivered Vacuum Drier — Defendant Failed to Deliver Goods Despite Receiving Advance Payments. The court held that the defendants were liable to refund the advance amount of Rs.2,64,590/- with interest at 6% per annum from the date of the suit till payment under the contract for sale of goods.

6 Jan 2010

The plaintiffs, M/s. Boolani Engineering Corporation, a registered partnership firm, filed a summary suit against the defendants, M/s. Milind Engg. Wo...

High Court

Madras High Court Dismisses Revenue's Appeal in Deemed Dividend Case — Advances from Sister Concern for Software Development Held Not Deemed Dividend Under Section 2(22)(e) of Income-Tax Act, 1961. Business Transactions in Ordinary Course Excluded from Deemed Dividend Provisions.

20 Jan 2026

The Revenue filed an appeal under Section 260A of the Income-Tax Act, 1961 against the order of the Income-Tax Appellate Tribunal, Chennai 'C' Bench d...

High Court

Bombay High Court Allows Appeal in Part, Grants Refund of Advance with Interest in Specific Performance Suit for Lease Agreement. The court held that an oral agreement for lease cannot be specifically enforced due to limitation and lack of written evidence, but the advance paid must be refunded with interest.

22 Sep 2015

The appellants, original plaintiffs, filed a suit for specific performance of an oral agreement of lease and possession of a shop premises in Pune. Th...

High Court

Bombay High Court Upholds Deduction Under Section 80P for Co-operative Bank's Interest Income from Advance Rent. Interest on advance rent paid for business premises is closely connected to banking business and eligible for deduction under Section 80P(2)(a)(i) of the Income Tax Act, 1961.

21 Jul 2011

The case involves an appeal by the Commissioner of Income Tax against the order of the Income Tax Appellate Tribunal (ITAT) which upheld the decision ...

High Court

Bombay High Court Allows Revenue's Appeal in Income Tax Case on Interest Income Classification. Interest income from bank deposits, intercorporate deposits, call money, debentures, and from Income Tax Department held not to be business income for deduction under Section 80HHC of the Income Tax Act, 1961.

30 Sep 2014

The Revenue Department filed appeals under Section 260-A of the Income Tax Act, 1961 against the orders of the Income Tax Appellate Tribunal (ITAT) fo...

High Court

Bombay High Court Dismisses PIL Challenging Definition of Loan Under Maharashtra Money-Lending Act. Classification Between Interest-Free Advances and Loans at Interest Held Not Arbitrary Under Article 14.

11 Dec 2019

The petitioner, Fauzan Shaikh, filed a Public Interest Litigation before the Bombay High Court challenging the constitutional validity of clauses (j) ...

High Court

Bombay High Court Allows Assessee's Reference in Section 80HHC Deduction Case - Interest Income from Sister Concerns Held Includible in Business Profits. The court ruled that interest income derived from the business of export and forming part of business profits must be included in computing the deduction under Section 80HHC of the Income Tax Act, 1961.

18 Sep 2012

The case involves a reference under Section 256(1) of the Income Tax Act, 1961, by the Income Tax Appellate Tribunal (ITAT) to the Bombay High Court. ...

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