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High Court of Karnataka Quashes Service Tax Demand on Payment Aggregator Services for FY 2015-16. Services Provided by FIS Payment Solutions to Acquiring Banks for Settlement of Card Transactions Held Not Taxable as 'Business Auxiliary Service' Under Finance Act, 1994.

The petitioner, FIS Payment Solutions and Services India Private Limited, a company incorporated under the Companies Act, 1956, provides payment aggre...

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Bombay High Court Allows Writ Petition for Duty Credit Scrips Under Target Plus Scheme. Export House with 119.34% Incremental Growth Entitled to 15% Duty Credit on Incremental Exports Under Target Plus Scheme.

The petitioner, Ram Ratna International, a partnership firm engaged in manufacturing and exporting electrical cables and equipment, was categorized as...

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Supreme Court Dismisses Appeal Against Arbitral Award Upholding Forfeiture of Security Deposit and Detention of Equipment in Contract Dispute. Termination of Contract for Poor Performance and Failure to Transport Export Container Held Justified Under Arbitration and Conciliation Act, 1996.

The appeal arose from a dispute between M/s Vijay Trading and Transport Company (appellant) and Central Warehousing Corporation (respondent) concernin...

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Supreme Court Considers Whether Refund Claim Under Customs Act Requires Appeal Against Assessment Order. Self-Assessment Under Section 17 and Amendment to Section 27 by Finance Act 2011 Examined.

The Supreme Court heard a batch of appeals filed by assessees and the Union of India against judgments of various High Courts and the Customs, Excise ...

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Bombay High Court Dismisses Suit for Short Delivery in Multimodal Transport Due to Limitation Under Carriage of Goods by Sea Act, 1925. The court held that the suit filed beyond one year from delivery was time-barred and plaintiff failed to prove short delivery.

The plaintiff, M/s. Assobhai Bhanji and Sons, a registered partnership firm engaged in import and export of dairy and agro products, filed a suit agai...

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Bombay High Court Dismisses Petition to Restrain Encashment of Performance Bank Guarantee in Arbitration Dispute. Court holds that bank guarantee is an independent contract and injunction can only be granted in cases of fraud or irretrievable injustice, which were not established.

The petitioner, Karam Chand Thapar & Bros. (Coal Sales) Ltd., filed a petition under Section 9 of the Arbitration and Conciliation Act, 1996, seeking ...

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Bombay High Court Allows Appeal Against Vacation of Vessel Arrest in Admiralty Suit for Bunker Supply Claim. The court held that the Single Judge erred in vacating the arrest and directing security without proper findings of mala fides.

The appellant, Chemoil Adani Pvt. Ltd., filed an admiralty suit against the vessel m.v. Hansa Sonderburg and its owners for recovery of dues for suppl...