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Bombay High Court Quashes Reassessment Notices in Income Tax Case Due to Lack of Independent Application of Mind by AO. Dividend Stripping Provision Under Section 94(7) of Income Tax Act, 1961 Not Applicable Where Assessee Suffered Net Loss on Sale of Mutual Fund Units Exceeding Dividend Received.

The petitioner, Karan Maheshwari, an individual investor in shares, stocks, securities, and mutual funds, challenged a show cause notice dated 20 Augu...

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Bombay High Court Allows Appeal Under Section 37 of Arbitration Act, Restoring Arbitral Award That Declared Termination of Master Asset Purchase Agreement by Repudiation. Court Holds That Single Judge Exceeded Scope of Section 34 by Reappreciating Evidence and Substituting His Own View.

The appeal arises from a dispute between V Hotels Ltd (appellant) and Siddhivinayak Realties Pvt Ltd (respondent no. 1) concerning a Master Asset Purc...

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Bombay High Court Dismisses Appeals Against Setting Aside of Arbitral Awards for Lack of Concluded Contract. Joint Exploration Agreement Held Not Binding as Conditions Precedent Not Fulfilled, Resulting in No Valid Arbitration Agreement.

The case involves appeals by Hindustan Petroleum Corporation Ltd. and Prize Petroleum Company Ltd. (appellants) against M3nergy Sdn. Bhd. (respondent)...

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Bombay High Court Grants Probate of Will in Favor of Executor Despite Challenge by Caveator Claiming Earlier Will. Court Upholds Validity of Later Will Executed in Hospital, Finds No Suspicious Circumstances.

The case concerns a probate petition filed by Prakash Sunderdas Aswani, the sole executor named in the last Will of Pushpa Thakurdas Aswani dated 18th...

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Bombay High Court Allows Mesne Profits Claim in Ownership Dispute Over Flat. Court holds that plaintiffs established ownership of suit flat and defendants are liable to pay mesne profits for illegal occupation.

The plaintiffs, Mrs. Tarla N. Morjaria, Mrs. Usha S. Somana, and Mrs. Bharati V. Tanna, filed a suit against the defendants, Mr. Bipin Hiralal Shah an...