Income Tax – Bad Debt – Assessee’s claim for writing off Rs. 10 crores as a bad debt disallowed – Amount advanced to developer not substantiated by material evidence – Mere provision for doubtful debt not sufficient under Section 36(1)(vii) after 1.4.1989 – Supreme Court held that the deduction was not allowable as conditions under Section 36(2) were not met &nd...
Urban Development – Transferable Development Rights (TDR) – Calculation of FSI – Appellants contested the reduction of TDR from 100% FSI to 4% FSI by the Chief Minister of Maharashtra – The land was originally not designated under 'Hill Top/Hill Slope' zone but reserved for park purposes – Supreme Court found the cancellation of the original TDR and reduction ...
Electricity Law – Power Purchase Agreements (PPA) – Change in Law – Adani Power entitled to carrying cost with compound interest – Dispute arose from a Change in Law event requiring Adani Power to install Flue Gas Desulfurization (FGD) unit – Appellants contested compound interest on carrying cost, arguing for simple interest – Supreme Court upheld compound inte...
Consumer Law – Refund and Interest – State Consumer Dispute Redressal Commission directed refund of Rs. 21.18 lakhs with 9% simple interest per annum due to incomplete construction – National Commission reduced the refund amount to Rs. 16.18 lakhs – Supreme Court found National Commission's partial reversal erroneous – Order of State Commission restored – Re...
Pension – Financial Constraints – Revision of Pension – High Court struck down Rule 3(3) of the Tripura State Civil Services (Revised Pension) Rules, 2009 as arbitrary – Rule allowed revision of pension notionally from 01.01.2006 to 31.12.2008, with actual payment from 01.01.2009 due to financial constraints – Supreme Court found High Court erred in its decision &ndas...
FERA – Limitation – Reasonable Period – Show cause notices issued in 2002 for transactions from 1992-1993 – Supreme Court held such delay unreasonable – Proceedings must be initiated within a reasonable period when no statutory period is prescribed – Eight-year record preservation limit under Banking Companies Rules supports unreasonableness of delayed notices &...
Constitutional Law – Writ Jurisdiction – Private Unaided Minority Institution – High Court held writ petition maintainable against termination order by private unaided minority institution – Supreme Court found High Court erred – Writ jurisdiction under Article 226 maintainable only if public duty element present – Service disputes of private nature without stat...
Service Tax – Consulting Engineer vs. Works Contract – Services such as erection, installation, and commissioning of goods at customer sites cannot be classified as consulting engineer services – Tribunal correctly held that such services fall under works contract and are not liable for service tax as consulting engineering – Revenue's appeal dismissed [Paras 2-4].
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Service Law – Assured Career Progression Scheme – Applicability – Appellants sought application of ACP Scheme retrospectively from August 9, 1999, as was done for State Government employees – BSEB adapted ACP Scheme effective from April 5, 2005 – Scheme not applicable to public undertakings or autonomous institutions unless specifically adapted – No malafide or ...
Service Law - Gratuity and Interest - Payment and Refund – LPA challenging Single Bench order allowing interest on gratuity amount from 26.03.2002 to 01.11.2010 – Employee retired in 2001, received gratuity but had to refund it upon opting for the pension scheme – Supreme Court in Allahabad Bank &Anr. vs. All India Allahabad Bank Retired Employees Association ruled employees ...