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Supreme Court Dismisses Bank's Application for Leave to Defend in Bank Guarantee Enforcement Case. The court found that the bank's defenses were insufficient to warrant leave to defend the suit for enforcement of the bank guarantee....

The dispute arose from a suit filed by Oil & Natural Gas Corporation Ltd. (ONGC) to enforce a bank guarantee against the State Bank of India (SBI) related to a contract for the construction of underse...

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Supreme Court Dismisses Writ Petition Challenging Stamp Duty on Share Transfers in Co-operative Societies. The court upheld the legislative competence of the State to impose stamp duty on share transfers in co-operative housing societies under the Bombay Stamp Act, 1958....

The case involved a writ petition filed by Kamlesh P. Oza and others against the State of Maharashtra, challenging the levy of stamp duty on the transfer of shares in a Co-operative Housing Society. T...

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Supreme Court Upholds Tax Liability of Shipbuilding Transactions — Distinction Between Sale and Works Contract Clarified....

The dispute arose between M/s. Hindustan Shipyard Limited and the State of Andhra Pradesh regarding the nature of transactions involving the manufacture and supply of ships. The appellant, a public se...

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Supreme Court Dismisses Appeal on Stamp Duty for Share Transfer in Co-operative Society — Legislative Competence Affirmed. The court affirmed that the transfer of shares in a co-operative society is treated as a conveyance and is subject to stamp duty under Article 25 of the Bombay Stamp Act, 1958....

The case involved an appeal against a judgment regarding the applicability of stamp duty on the transfer of shares in a co-operative society. The first appellant was a member of the Dalamal Tower Prom...

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Supreme Court Sets Aside High Court Judgment on Land Settlement Dispute Due to Improper Findings. The High Court's observations on section 8 rights were outside the scope of the writ petition and unjustified....

The dispute arose from a claim for settlement of land under the Orissa Estates Abolition Act, 1951, by the successors of an ex-intermediary, Sri Balabhadra Khuntia. The appellants sought settlement fo...

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Supreme Court Dismisses Appeal on Surtax Deduction and Physician's Samples in Income Tax Case. The court ruled that the liability to pay surtax is not an admissible deduction and that expenditure on physician's samples constitutes advertisement expenditure under Section 37(3A) of the Income Tax Act, 1961....

The case involved an appeal by a pharmaceutical company regarding the admissibility of surtax as a deduction in computing total income for the assessment year 1980-81. The High Court had certified the...

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Supreme Court Upholds Ministry of Commerce's Anti-Dumping Duty Against Foreign Exporter — Justification for Authority's Methodology Affirmed....

The dispute arose between the Ministry of Commerce and M/s Haldor Topsoe concerning the imposition of anti-dumping duties on six types of catalysts exported from Denmark. The Ministry initiated an inv...

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Supreme Court Allows Appeal in Central Excise Valuation Dispute — Clarifies Assessable Value Calculation. The court determined that the assessable value must include the cost of raw materials and manufacturing expenses, excluding post-manufacturing profits....

The dispute arose between a biscuit manufacturing company and the Collector of Central Excise regarding the assessable value of biscuits manufactured under an agreement with Britannia Industries Ltd. ...

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Supreme Court Remands Insurance Liability Case for Time Determination of Policy Issuance. Court found that the exact time of policy issuance is critical for assessing liability under the Insurance Act, 1938....

The case involved an appeal by the National Insurance Company Ltd. against a High Court order dismissing its appeal regarding liability under an insurance policy. The dispute centered on whether the i...

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Supreme Court Restores Specific Performance Decree in Contract Dispute Due to Misinterpretation of Delay and Readiness. High Court's Findings on Delay and Readiness Found Unsustainable, Upholding Plaintiff's Right to Specific Performance Under Section 16(c) of Specific Relief Act, 1963....

The appeal arose from a judgment of the Gauhati High Court which set aside a trial court decree for specific performance of a contract for the sale of property. The plaintiff, Motilal Jain, entered in...