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Bombay High Court Allows Writ Petition Challenging CBDT Circular Denying Adjustment of TDS Against Tax Payable Under Voluntary Disclosure Scheme. Circular No. 755 dated 25-07-1997 Held Ultra Vires as It Imposed Restriction Not Found in Finance Act, 1997 or Income Tax Act, 1961.

The petitioner, Earnest Business Services Pvt. Ltd., a company incorporated under the Companies Act, 1956, and its director, filed a writ petition und...

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High Court of Karnataka Quashes Show Cause Notice for Willful Defaulter Declaration Due to Lack of Application of Mind — Bank Issued Notice Without Considering Petitioner's Reply or Providing Adequate Opportunity Under RBI Master Circular.

The petitioner, B.G. Chandrashekar, a borrower from Canara Bank, defaulted on a loan of Rs. 7,07,94,378/-. The bank initiated recovery proceedings und...

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Bombay High Court Allows Second Appeal in Partition Suit, Upholds Prior Partition Based on Unequal Division and Subsequent Conduct. Court holds that unequal partition does not invalidate severance of joint status and that subsequent alienations of individual shares indicate acceptance of prior partition.

The case involves a Second Appeal filed by the original defendants against a decree for partition and separate possession granted by the First Appella...

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Bombay High Court Dismisses Petition to Restrain Invocation of Bank Guarantee in Airport Development Contract Dispute. Court holds that bank guarantee is an independent contract and can be invoked only in case of breach, but no prima facie case of fraud or irretrievable injustice established.

The petitioner, Housing Development and Infrastructure Limited (HDIL), filed an arbitration petition under Section 9 of the Arbitration and Conciliati...

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Bombay High Court Dismisses Appeal Against Interlocutory Injunction in Film Rights Dispute — Agreement for Commission and Overflow Payments Upheld as Prima Facie Valid.

The appeal arose from an order of a Learned Single Judge granting interlocutory relief in a suit concerning rights in the film 'Hum Hai Rahi Pyar Ke'....