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Supreme Court Dismisses Appeal of NBFC in Income Tax Dispute on Set-off of Speculation Loss. Principal Business Determined by Actual Activities, Not Registration; Amendment to Explanation to Section 73 Held Prospective.

The appeal arose from a judgment of the Calcutta High Court in an appeal under Section 260A of the Income Tax Act, 1961, concerning the assessment yea...

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Supreme Court Allows Appeal in Government Contract Dispute — Substantial Compliance with Section 80 CPC Sufficient. Notice under Section 80 CPC need not be pedantically scrutinized; substantial compliance with cause of action and relief indicated is adequate.

The present appeals relate to whether a notice under Section 80 of the Code of Civil Procedure (CPC) has been given to the State of Tamil Nadu in term...

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Supreme Court Allows FCI Appeal in Appointment Dispute Over Experience Certificate Requirement. The Court held that essential eligibility criteria must be strictly complied with and subsequent production of certificates cannot cure initial deficiency.

The case involves an appeal by the Food Corporation of India (FCI) against a Division Bench judgment of the Delhi High Court that directed FCI to appo...

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Supreme Court Allows Developer's Appeal in Part, Reducing Interest Rate on Refund for Delayed Possession of Row House. Buyer's Agreement's One-Sided Clause on Delay Interest Does Not Preclude Claim for Reasonable Compensation; Refund Upheld but Interest Reduced from 12% to 9%.

The case involves a dispute between Kolkata West International City Pvt Ltd (the developer/appellant) and Devasis Rudra (the buyer/respondent) arising...