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Supreme Court Dismisses Appeal to Enforce English Summary Judgment in Guarantee Dispute — Foreign Judgment Held Unenforceable for Violating Principles of Natural Justice Under Section 13 CPC. Summary judgment passed after denying leave to defend is not conclusive and cannot be enforced in India.

The dispute arose from a Share Purchase and Co-operation Agreement (SPCA) executed on 12.05.1995 between (appellant, a foreign company) and (responden...

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Bombay High Court Dismisses Writ Petition Challenging Land Acquisition for Public Purpose — Compensation Award Not Challenged on Merits. Petitioners' Challenge to Acquisition Under Land Acquisition Act, 1894 Fails as They Did Not Seek Reference for Higher Compensation and Acquiesced to Proceedings.

The petitioners, legal heirs of the original owner Anwar Hajee Alimohammed Hajee Cassum Agboatwala and other co-owners, filed a writ petition under Ar...

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Bombay High Court Dismisses Appeals by Acquiring Body in Land Acquisition Compensation Cases — Previous Awards and Potential Value Upheld as Valid Basis for Market Value Determination Under Land Acquisition Act, 1894.

The case involves multiple first appeals filed by the Vidarbha Irrigation Development Corporation (appellant) challenging the enhancement of compensat...

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Supreme Court Dismisses Assessee's Appeal: Profit from Share Sales Held as Trading Income, Not Capital Gain. Purchase and Quick Resale of Shares with Borrowed Funds and Debiting Interest as Revenue Expenditure Indicated a Well-Planned Scheme to Earn Profits under the Income Tax Act, 1922.

The assessee firm, Juggilal Kamlapat, Kanpur, was engaged in promoting companies and financing sister concerns of the J.K. Group. During the assessmen...

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KAHC010005522012_1

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Bombay High Court Partly Allows VIDC Appeal in Land Acquisition Compensation Case — Compensation Reduced from Rs.2,00,000 to Rs.1,00,000 per Hectare. Market Value Determined Based on Sale Deed of Similar Land with 10% Deduction for Development Charges.

The case pertains to a land acquisition dispute where the Vidarbha Irrigation Development Corporation (VIDC) appealed against the enhancement of compe...