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Supreme Court Dismisses Assessee's Appeal in Income Tax Cash Credit Case — Upholds Addition Under Section 68 Despite Rejection of Books for Gross Profit. Books of Account Can Be Partially Relied Upon for Different Additions Even After Rejection Under Section 145(3) of Income Tax Act, 1961.

The appeal arose from a challenge to an addition of Rs.2,26,000 made under Section 68 of the Income Tax Act, 1961, as unexplained cash credits. The ap...

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Supreme Court Remands Pension Case to High Court for Lack of Reasoning in Order. State's Appeal Allowed as High Court Failed to Assign Reasons for Granting Pensionary Benefits to Retired Employee.

The State of Orissa appealed against the High Court's order directing it to treat the respondent, a retired employee, as a regular employee and grant ...

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Supreme Court Upholds 10% Deposit Condition in Arbitration Clause as Valid in Commercial Contracts. Clause requiring deposit-at-call of 10% of claim amount before invoking arbitration is not arbitrary or discriminatory under Article 14.

The case arose from a tender issued in 2008 by the Punjab State Water Supply & Sewerage Board for water supply and sewerage projects. The appellant, M...