Search Results for "Finance Act 1956"

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Bombay High Court Dismisses Petitions Seeking Mandamus to Enforce Lease Renewal Clause Against Central Railway. Clause 20.1 of Lease Agreement Does Not Confer Automatic Right of Renewal; Railway's Discretion to Invite Fresh Tenders Upheld.

The judgment concerns two writ petitions filed by Parcel Carriers (India) Pvt Ltd and Scorpion Express Pvt Ltd against the Union of India and Central ...

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Bombay High Court Partly Allows Revenue's Appeal on Disallowance of Legal and Professional Charges in Income Tax Case. Tribunal's Order Set Aside Regarding Legal Expenses but Upheld on Depreciation and Section 54EC Deduction.

The appeal by the revenue under Section 260A of the Income Tax Act, 1961 challenged the order of the Income Tax Appellate Tribunal dated 19/1/2010 in ...

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Bombay High Court Dismisses Section 9 Petition for Lack of Territorial Jurisdiction in Arbitration Dispute. Court holds that no part of cause of action arose within its jurisdiction as contract was executed and performed in Chennai, and arbitration venue was Chennai.

The petitioner, M/s. Roman Tarmat Ltd., filed a petition under Section 9 of the Arbitration and Conciliation Act, 1996, seeking an injunction restrain...

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Bombay High Court Dismisses Petition Challenging Government Resolution Prescribing Fees for Permission to Mortgage Occupancy Class II Lands. Condition Imposing Payment of Fees Held Valid Under Section 43 of Maharashtra Land Revenue Code, 1966 and Not Violative of Article 14 of Constitution of India.

The petitioner, BILT Graphic Paper Products Limited, a company incorporated under the Companies Act, 1956, engaged in paper manufacturing, challenged ...

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Bombay High Court Allows Appeal in Winding-Up Petition, Sets Aside Conditional Deposit Order for Lack of Jurisdiction. Dispute over unpaid dues under the Forward Contracts (Regulation) Act, 1952 cannot be adjudicated in winding-up proceedings under the Companies Act, 1956.

The appeal arose from an order dated 27 September 2017 passed by the learned Company Judge in Company Petition No. 192 of 2016, directing the responde...

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Supreme Court Dismisses Appeal in Insolvency Case Due to Lack of Financial Creditor Status. Interest-Free Term Loan Does Not Qualify as Financial Debt Under Section 5(8) of the Insolvency and Bankruptcy Code, 2016 as It Lacks Consideration for Time Value of Money.

The appeal arose under Section 62 of the Insolvency and Bankruptcy Code, 2016 (IBC) against the dismissal by the National Company Law Appellate Tribun...

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Bombay High Court Allows Appointment of Court Receiver in Arbitration Petition Under Section 9 of Arbitration and Conciliation Act, 1996 for Loan Default. Loan Agreement Default Leads to Appointment of Receiver to Secure Claim Pending Arbitration.

The petitioner, L & T Finance Limited, filed a petition under Section 9 of the Arbitration and Conciliation Act, 1996 seeking appointment of a Court R...

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High Court Allows Assessee's Appeal in Modvat Credit Dispute — Capital Goods Credit Denial Set Aside. Rule 57Q of Central Excise Rules, 1944 interpreted to allow credit on capital goods used in manufacture of final products, even if not directly used in the manufacturing process.

The appellant, M/s. Reliance Industries Ltd., is engaged in the manufacture of various chemical products at its Hazira Manufacturing Complex. The comp...

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Bombay High Court Dismisses Writ Petition Challenging RBI Circular on Resolution of Stressed Assets. Circular dated 12.02.2018 held to be valid and within RBI's powers under Sections 35A and 35AB of the Banking Regulation Act, 1949.

The petitioners, Jayaswal Neco Industries Limited and Jayaswal Holdings Private Limited, filed a writ petition under Article 226 of the Constitution o...