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Bombay High Court Quashes Reassessment Notice in Income Tax Case for Lack of Fresh Material. Reopening of Assessment Under Section 147 of Income Tax Act, 1961 Invalid When Based on Same Material Already Considered in Original Assessment.

The petitioner, Siemens Financial Services Pvt Ltd, a Non-Banking Finance Company registered with RBI, filed its return of income for Assessment Year ...

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Bombay High Court Adjudicated Arbitration Petition Under Section 34 of the Arbitration and Conciliation Act, 1996 Challenging Arbitral Award in Lease Finance Dispute. The Award Held Lessee Liable for Tax Demands Arising from Disallowance of Depreciation Under Income Tax Act, 1961.

The matter pertains to an arbitration petition filed under Section 34 of the Arbitration and Conciliation Act, 1996 before the High Court of Judicatur...

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Bombay High Court Allows Appeal Against Rejection of Section 34 Application in MSMED Act Arbitration. Court Holds That Section 34 Application Is Maintainable and Limitation Period Under Section 34(3) Applies.

The appellant, M/s. Ravindranath GE Medicate Associate Private Limited, issued a work order dated 9th January 2008 to the respondent, M/s. Clean Coats...

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Karnataka High Court Dismisses Legal Representatives' Appeal in Land Acquisition Compensation Case Due to Unexplained Delay and Procedural Lapses. Legal Representatives' Failure to Seek Leave to Appeal and Filing a False Affidavit Precluded Condonation of Delay Under Section 5 of Limitation Act, 1963.

The case arose from the acquisition of land belonging to H.D. Lokeshaiah in Halanuru village, Tumakuru Taluk, for the construction of the Hemavathi Ca...

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Bombay High Court Allows Petitioner's Petition for Extension of Bank Guarantee Pending Challenge to Arbitral Award — Section 9 of Arbitration and Conciliation Act, 1996. Post-award interim protection can be granted under Section 9 to preserve the subject matter of arbitration pending challenge to award.

The petitioner, Oil and Natural Gas Corporation Limited (ONGC), filed a petition under Section 9 of the Arbitration and Conciliation Act, 1996, seekin...

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Karnataka High Court Dismisses Second Appeal in Suit for Specific Performance — Concurrent Findings of Fact Not Interfered With. Court holds that concurrent findings of fact regarding readiness and willingness and limitation cannot be disturbed in second appeal under Section 100 CPC unless perverse.

The present second appeals arise out of a suit for specific performance of a contract for sale of land. The appellants, who are the legal representati...