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Bombay High Court Dismisses Landlord's Petition in Tenancy Dispute Over Adoption Claim. Adoption of Petitioner Not Proved as Valid Under Hindu Law and Tenancy Act, Hence Tenant's Purchase Rights Upheld.

The petitioner, Kishanrao Aukale, filed a writ petition challenging the judgment of the Maharashtra Revenue Tribunal, Aurangabad, in Tenancy Case No.5...

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Bombay High Court Allows Revenue's Appeal in Income Tax Case - Holding Period for Long-Term Capital Gains Determined by Section 2(42A) Explanation 1. Indexation Benefit Requires Asset Held for More Than 36 Months; Inherited Property's Holding Period Includes Previous Owner's Period.

The case involves an appeal by the Commissioner of Income Tax against an order of the Income Tax Appellate Tribunal (ITAT) regarding the computation o...

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Bombay High Court Dismisses Appeal in Trust Property Dispute — Will and Gift Deed Upheld. Court holds that a will executed by a Hindu widow in 1943 was valid and that a subsequent gift deed by a co-owner was binding on the property.

The case involves a dispute over a house property originally owned by Adkuji Palandurkar. After his death, his widow Manabai and other heirs inherited...

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Bombay High Court Dismisses Appeal Against Injunction in Bank Guarantee Invocation Dispute. Fraud Must Be Established at Invocation Stage; Bank Guarantee Is Independent Contract Between Bank and Beneficiary.

The appellant, M/s. ABG Ports Limited, filed a suit seeking a declaration that the Joint Bid Agreement (JBA), the Counter Guarantee, and its invocatio...

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NOTICE OF MOTION COMMERCIAL DIVISION NO. 196 OF 2018

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High Court of Bombay at Nagpur Dismisses Second Appeal in Property Dispute Over Gift Deed and Partition. Family Settlement of 1953 Held Valid Despite Non-Registration, and Gift by Widow to Grandson Upheld as Binding on Heirs.

The dispute pertains to properties originally owned by Balaji, who died intestate in 1932. His widow Laxmibai and three sons Harihar, Keshao, and Krus...

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Bombay High Court Allows Assessee in Income Tax Reference Under Section 256(1) of Income Tax Act, 1961 — Profits on Sale of Machinery Not Taxable Under Section 41(2) as Depreciation Was Claimed by Dissolved Firm, Not by Assessee.

The case involves a reference under Section 256(1) of the Income Tax Act, 1961 by the Income Tax Appellate Tribunal, Mumbai, for the opinion of the Bo...