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Supreme Court Allows Assessee's Appeal in Income Tax Dispute Over Non-Compete Fee Taxability. Amount Received Under Deed of Covenant Held as Capital Receipt Not Taxable Under Section 28(ii)(a) of Income Tax Act, 1961, Due to Separate Genuine Transaction and Procedural Error in High Court's Judgment.

The appeal concerned the assessment year 1995-96 involving Shri Shiv Raj Gupta, Chairman and Managing Director of Central Distillery and Breweries Ltd...

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Supreme Court Dismisses Contempt Petitions Against Food Corporation of India for Non-Compliance of Regularisation Orders — No Willful Disobedience Found as Corporation Took Steps Towards Compliance

The Supreme Court dismissed a batch of contempt petitions filed by workmen unions against the Food Corporation of India (FCI) for alleged non-complian...

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Supreme Court Allows FCI Appeal in Property Tax Exemption Case — Holds That Occupier of Central Government Property Is Not Liable Under Article 285(1) When Ownership Vests in Union. Bombay High Court Erred in Relying on Section 146 of MMC Act Without Considering Ownership Status.

The Supreme Court allowed the appeals filed by the Food Corporation of India (FCI) against the judgment of the Bombay High Court dated 05.05.2016 and ...

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Supreme Court Allows FCI Appeals Against High Court Order on Allocation of Paddy to Lessees of Blacklisted Rice Mills. Unregistered Lease Deeds Cannot Confer Rights to Allocation Unless Liabilities of Defaulting Millers Are Cleared.

The Supreme Court allowed appeals by the Food Corporation of India (FCI) against a Punjab and Haryana High Court order that had directed allocation of...

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Supreme Court Allows Appeal of Legal Heirs in Workmen's Compensation Case: Death of Truck Driver While Fetching Water from Canal Held to Arise Out of Employment. Notional Extension Doctrine Applied to Compensate Under Employee's Compensation Act, 1923.

The appellants, legal heirs of the deceased truck driver, were granted compensation by the Workmen's Compensation Commissioner under the Workmen's Com...

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Supreme Court Upholds Penalty on Managing Director in FEMA Violation Case — Failure to Complete Import Formalities Constitutes Continuing Offence. Liability under Section 10(6) of FEMA, 1999 attaches to person responsible for conduct of business regardless of change in management.

The appeal arose from complaint proceedings initiated by the Enforcement Directorate under Section 16(3) of the Foreign Exchange Management Act, 1999 ...

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Supreme Court Allows IFCI's Appeal Against Retirees' Claim for Enhanced Pension Under VRS-2008. Voluntary Retirement Scheme's Full and Final Settlement Clause Bars Subsequent Claims for Pay Revision Benefits.

The dispute pertains to thirty-one employees of IFCI who voluntarily retired under the Voluntary Retirement Scheme of 2008 (VRS-2008) on 1 February 20...