Dismissing the appeals of a large number of companies that opposed the new policy, the bench headed by Justice SH Kapadia said AS 22 sought to arrive at the true accounting income. "In the age of globalisation, the attempt is to reconcile the accounts of the Indian companies with their joint venture partners abroad," the 220-page judgment said, and added: "The aim is to harmonise Indian accounting standards with international standards."
The chief minister is facing allegations of amassing assets beyond her known sources of income. She is reported to have made over Rs 100 crores in the Taj corridor scandal.
The court also wanted to know from the government as to what safety measures it proposed to take for protecting the workers who have to discharge the function of ship breaking.
Jaidev, who has challenged the validity of his father's 2011 will, stunned the courtroom by saying, for the first time, that 'Aishwarya is not my son'.
The Supreme Court said the President and governors have to keep in mind the effect of such pardon on the family of the victim.
Bombay high court began hearing arguments on Thursday on whether it has the jurisdiction to adjudicate on a dispute between Jet Airways and Lucknow-based Air Sahara over a collapsed takeover deal.
The court, however, did not pass any orders as to who would foot the Rs 42.5-crore bill estimated by the committee for eco-restoration.
"After examining the documents if there would be some queries, the court will dictate it for the High Court on October 26, the next date of hearing," the bench said.
The Supreme Court on Wednesday declined to grant interim protection from arrest to Ali Abbas Zafar, director of the web series Tandav, and others seeking the quashing of FIRs against them for allegedly hurting religious sentiments of Hindus, and issued notices Uttar Pradesh, Madhya Pradesh and other states on their pleas.
It also granted protection from arrest to Amazon Prime Video's India head Aparna Purohit in first information reports lodged over web series Tandav.
The high court, however, upheld the ban on slaughter of cows and bullocks in the state.
In our special series re-visiting great Hindi film classics, we look back at Sunny Deol and Dimple Kapadia starrer Arjun, 1985.
'Bullying is not going to scare me.' 'Nana Patekar has no powerful friends. It is just a perception created by his friends.' 'I have really powerful voices like Maneka Gandhi supporting me.'
Delhi's air is a desperate problem, but some of the solutions have been too desperate and unthinking.
Sanjay Leela Bhansali's Bajirao Mastani has ruffled quite a few feathers among the descendants of the Peshwa and his Muslim wife.
Rediff.com's Vicky Nanjappa spoke to several legal and constitutional experts on the issue.
Filmmaker Muzaffar Ali looks back at his movies.
