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High Court of Karnataka Allows Canara Bank's Writ Petition Seeking Removal of Encumbrance Created by Commercial Tax Department on Mortgaged Property. Priority of Bank's Mortgage Over Statutory Charge Under Karnataka Value Added Tax Act, 2003 Upheld.

The petitioner, Canara Bank, filed a writ petition under Articles 226 and 227 of the Constitution of India seeking a writ of mandamus directing the St...

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Supreme Court Dismisses Appeals in Specific Performance Case — Buyer's Readiness and Williness Established. Time Held Not of Essence Due to Seller's Conduct in Accepting Delayed Payments and Continuing Negotiations.

The dispute arose from an agreement for sale of immovable property dated 20th January 2005 between the sellers (appellants in CA 3015/2013) and the bu...

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High Court of Karnataka Quashes Sub-Registrar's Refusal to Delete Agreement of Sale Entry from Encumbrance Certificate. Sub-Registrar Has No Power to Make Entries of Unregistered Agreements of Sale Under Registration Act, 1908, and Cannot Refuse Deletion.

The petitioner, Ramesh Timmanna Umarani, filed a writ petition under Articles 226 and 227 of the Constitution of India before the High Court of Karnat...

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Bombay High Court Dismisses Writ Petition Against SARFAESI Auction Sale for Lack of Alternative Remedy. Petitioner's challenge to auction sale of secured assets fails as remedy under Section 17 of SARFAESI Act before DRT was not exhausted.

The petitioner, Umang Sugars Private Limited, filed a writ petition before the Bombay High Court challenging the auction sale of movable and immovable...

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Bombay High Court Allows Revenue's Appeal in Part and Assessee's Appeal on Mortgage Repayment Issue. Repayment of mortgage debt created by the assessee is an expenditure incurred in connection with the transfer of mortgaged asset allowable under Section 48(i) of the Income Tax Act, 1961.

The judgment involves two tax appeals, one by the revenue and one by the assessee, arising from a common issue regarding the allowability of repayment...

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Bombay High Court Allows Assessee's Appeal in Income Tax Case Regarding Deduction of Mortgage Repayment Under Section 48(i). The court held that repayment of mortgage debt is an expenditure incurred in connection with transfer of mortgaged asset, allowable under Section 48(i) of Income Tax Act, 1961.

The judgment involves two tax appeals, one by the revenue and one by the assessee, arising from a common issue regarding the allowability of mortgage ...