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Bombay High Court Allows Appeal in Income Tax Case — Reassessment Notice Invalid Beyond Four Years Without Allegation of Non-Disclosure. Arbitration Award Receipt Held as Capital Receipt, Not Income Under Section 147 of the Income Tax Act, 1961.

The appellant, Ramona Pinto, an individual, filed an appeal under Section 260A of the Income Tax Act, 1961, against an order dated 2nd April 2018 pass...

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High Court of Bombay Allows Union of India's Appeal Against Modification of Arbitrator's Award on Interest Rate in Construction Contract Dispute. Arbitrator's discretion to award interest at 12% per annum upheld as reasonable under Section 29 of the Arbitration Act, 1940.

The case arises from a construction contract awarded by the Union of India (appellant) to M/s Bajaj & Co. (respondent) in 1986 for building an Air Rou...

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Bombay High Court Dismisses Petition by Society Members Challenging Arbitral Award for Lack of Locus Standi. Non-signatories to arbitration agreement cannot challenge award under Section 34 of Arbitration and Conciliation Act, 1996.

The petitioners, who are members of Apsara Co-operative Housing Society Ltd., filed a petition under Section 34 of the Arbitration and Conciliation Ac...

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Supreme Court Dismisses Appeal of Contractor in Arbitration Dispute Over Interest. Contractual Clauses 50 and 51 of GCC Barred Arbitral Tribunal from Awarding Interest on Delayed Payments Under Section 31(7)(a) of Arbitration and Conciliation Act, 1996.

The dispute arose from a contract awarded to Jaiprakash Associates Ltd. (JAL) by Tehri Hydro Development Corporation India Ltd. (THDC) for execution o...

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High Court Considers Whether Arbitrator Has Jurisdiction to Pass Successive Awards and Whether Claims Are Barred by Res Judicata. Challenge to Awards Confirmed by Lower Court Raises Issues of Functus Officio and Splitting of Claims under Sections 34 and 37 of Arbitration and Conciliation Act, 1996.

The appeals arose from two arbitration awards passed by the sole arbitrator in disputes between Mysore Lamp Works Limited (appellant) and S.V. Enginee...