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Bombay High Court Upholds Capital Gains Treatment for Land Sale by Estate Administrator — Assessee Not a Trader in Land. Surplus from sale of inherited land held as capital gain, not business income, under Income Tax Act, 1961.

The case involved a reference under Section 256(1) of the Income Tax Act, 1961, at the instance of the Revenue, challenging the Tribunal's decision th...

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Bombay High Court Dismisses Second Appeal in Specific Performance Suit — Upholds Concurrent Findings of Readiness and Willingness. Plaintiff's Averments in Plaint Sufficient to Satisfy Section 16(c) of Specific Relief Act, 1963.

The appellant-original defendant filed a second appeal against the concurrent decrees for specific performance of an agreement to sell passed by the t...

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Bombay High Court Dismisses Appeal Against Refusal to Restrain Bank Guarantee Invocation in Contract Dispute. No Fraud or Special Equities Established to Prevent ONGC from Encashing Bank Guarantees Furnished by Mercator Oil & Gas.

The appellant, Mercator Oil & Gas Limited, had entered into a contract with the first respondent, Oil & Natural Gas Corporation Limited (ONGC), for th...

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Bombay High Court Allows Appeal by Housing Society in Property Dispute Over Water Connection and Construction. Developer's Agreement to Provide Water Connection and Restrict Construction Held Binding.

The case involves two cross-appeals arising from a judgment and decree dated 31st March 2004 in L.C. Suit No. 786 of 2004. The appellants in First App...

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Bombay High Court Allows Petition Challenging Cooperative Society's Bye-Law Amendment for Non-Compliance with Section 22 of Maharashtra Co-operative Societies Act, 1960. Amendment to Bye-Law 26(c) set aside as notice of meeting did not contain proposed amendment.

The petitioner, Sadguru University CHS Ltd., filed a writ petition challenging the amendment to Bye-Law 26(c) of the respondent society, Sadguru Premi...