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Bombay High Court Allows Assessee's Appeal in Income Tax Case Regarding Deduction of Mortgage Repayment Under Section 48(i). The court held that repayment of mortgage debt is an expenditure incurred in connection with transfer of mortgaged asset, allowable under Section 48(i) of Income Tax Act, 1961.

The judgment involves two tax appeals, one by the revenue and one by the assessee, arising from a common issue regarding the allowability of mortgage ...

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Bombay High Court Allows Revenue's Appeal in Part and Assessee's Appeal on Mortgage Repayment Issue. Repayment of mortgage debt created by the assessee is an expenditure incurred in connection with the transfer of mortgaged asset allowable under Section 48(i) of the Income Tax Act, 1961.

The judgment involves two tax appeals, one by the revenue and one by the assessee, arising from a common issue regarding the allowability of repayment...

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Bombay High Court Dismisses Writ Petition Against SARFAESI Auction Sale for Lack of Alternative Remedy. Petitioner's challenge to auction sale of secured assets fails as remedy under Section 17 of SARFAESI Act before DRT was not exhausted.

The petitioner, Umang Sugars Private Limited, filed a writ petition before the Bombay High Court challenging the auction sale of movable and immovable...

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Bombay High Court Acquits Talathi in Corruption Case Due to Inconsistent Evidence and Lack of Proof of Demand. Conviction under Sections 7 and 13(1)(d) r/w 13(2) of Prevention of Corruption Act, 1988 set aside as prosecution failed to establish demand and acceptance of bribe beyond reasonable doubt.

The appellant, Vikas Baburao Marathe, a Talathi (revenue officer), was convicted by the Special Judge, Jalgaon, for offences under Sections 7 and 13(1...

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Supreme Court Allows Appeal in Specific Performance Case — Remand for Determination of Compensable Loss and Set-off. Agreement for Sale Breach by Vendor — High Court's Remand Order Upheld with Modification to Include Set-off of Earnest Money Against Compensation.

The present appeal arises from a judgment of the High Court of Kerala at Ernakulam in RFA No.563 of 2014, which reversed the trial court's decree of s...