bank scam
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Bombay High Court Grants Bail in ₹242 Crore Bank Scam Case Citing Illegal Arrest of Woman After Sunset Without Magistrate’s Permission and Failure to Communicate Grounds of Arrest to Relatives “Guarantee of life and liberty under Article 21 cannot be denied even to an accused”

Court’s Decision The Bombay High Court granted bail to the applicant, a former Chief Executive Officer of a cooperative bank accused in a ₹242 crore bank fraud case. The Court…
death of horses
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Bombay High Court holds insurance claim amounts received for death of horses by Poonawalla Estate Stud and Agricultural Farm to be capital receipts, not taxable as business profits, reiterating “heads of income under the Act are mutually exclusive” while quashing tax demands

Court’s Decision The Bombay High Court allowed four appeals, holding that insurance claim amounts received upon the death of horses, which were capital assets, constitute capital receipts not chargeable under…
frustration of contract
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Bombay High Court sets aside finding of frustration of contract, holding non-performance due to labour strike and price rise does not constitute force majeure, directs cooperative federation to pay damages to buyer for breach of shellac supply agreement with export obligation

Court’s Decision The Bombay High Court allowed the appeal, reversing the Single Judge’s finding that the contract was frustrated under Section 56 of the Contract Act due to labour strike…
corruption
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Bombay High Court Rejects Anticipatory Bail to Additional Tehsildar Accused of Demanding Bribes through Agents in Mutation Entry Cases, Citing “Corruption Threatens the Foundation of Democracy” While Stressing Custodial Interrogation Essential in Trap Cases Involving Public Servants

Court’s Decision The Bombay High Court rejected the anticipatory bail application of the Additional Tehsildar accused under the Prevention of Corruption Act for allegedly demanding bribes through agents for mutation…
doubtful debt
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Bombay High Court Allows Appeal Holding Provision for Doubtful Debts Made Towards Receivables Is Not a Reserve, Sets Aside Addition to Book Profits Under Clause (b) of Explanation to Section 115JA as “Provision Made Towards Receivables Cannot Be Added Back in Book Profits, Upholding Legislative Intent and Consistency”

Court’s Decision The Bombay High Court allowed the appeal, holding that the provision for doubtful debts towards receivables is not a “reserve” and therefore cannot be added back to book…
shantistar builders
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Bombay High Court Holds Shantistar Builders Judgment Applies Prospectively, Denies Builder’s Request to Limit Government’s Tenement Share from 30% to 5%, Observing “Prospective Interpretation of Law is Consistent with Judicial Discipline and Fairness” Under Urban Land Ceiling Scheme

Court’s Decision The Bombay High Court Full Bench concluded that the law laid down by the Supreme Court in Shantistar Builders capping government nominee allotments at 5% under the Urban…