Bombay High Court Upholds Penalty Under Section 271(1)(c): Transfer of Revalued Stock-in-Trade to Partnership Firm, Followed by Immediate Withdrawals, Held as a Tax Evasion Device—"A Mere Disclosure in Books Does Not Amount to Full and True Disclosure"Bombay High Court Upholds Penalty Under Section 271(1)(c): Transfer of Revalued Stock-in-Trade to Partnership Firm, Followed by Immediate Withdrawals, Held as a Tax Evasion Device—"A Mere Disclosure in Books Does Not Amount to Full and True Disclosure"
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Bombay High Court Upholds Penalty Under Section 271(1)(c): Transfer of Revalued Stock-in-Trade to Partnership Firm, Followed by Immediate Withdrawals, Held as a Tax Evasion Device—”A Mere Disclosure in Books Does Not Amount to Full and True Disclosure”

Court’s Decision The Bombay High Court upheld the penalty of ₹33,34,096 imposed under Section 271(1)(c) of the Income Tax Act, 1961, ruling that the appellant had engaged in a “device”…
February 4, 2025
Bombay High Court Dismisses Review Petition by Unaided Minority Institution: "AICTE Pay Scale Regulations Are Binding; Financial Hardship No Justification for Denying Assistant Professors’ Salaries Under VI and VII Pay Commissions"
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Bombay High Court Dismisses Review Petition by Unaided Minority Institution: “AICTE Pay Scale Regulations Are Binding; Financial Hardship No Justification for Denying Assistant Professors’ Salaries Under VI and VII Pay Commissions”

Court’s Decision The Bombay High Court dismissed a review petition filed by an unaided minority educational institution challenging a ruling that directed it to pay Assistant Professors salaries as per…
February 4, 2025
Supreme Court Dismisses NHAI’s Plea for Prospective Application of Tarsem Singh Judgment: Holds That ‘Solatium’ and ‘Interest’ Must Be Granted to All Landowners Affected Between 1997-2015
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Supreme Court Upholds Retrospective Application of Tarsem Singh (2019) Judgment: “Landowners Whose Lands Were Acquired Under the NHAI Act Between 1997-2015 Entitled to Solatium and Interest; Financial Burden Not a Justification to Deny Compensation”

Court’s Decision The Supreme Court dismissed the Miscellaneous Application filed by the National Highways Authority of India (NHAI), affirming that the judgment in Union of India v. Tarsem Singh (2019)…
February 4, 2025