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Bombay High Court Allows Defendants to File Written Statement Beyond 120 Days in Pre-2015 Commercial Suit. Mandatory timeline under Commercial Courts Act, 2015 does not apply retrospectively to suits filed before the Act and transferred to Commercial Division.

The Bombay High Court addressed a preliminary legal question in a Notice of Motion arising from a Commercial Suit. The suit was originally filed in 20...

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Supreme Court Allows Assessee's Appeals; Profits from Sale of Gold and Shares Held Capital Receipts Not Taxable as Income. Court Rules Transactions Were Realisation of Investment, Not Adventures in Nature of Trade, and High Court Erred in Treating Tribunal's Finding as Unreviewable Fact.

The appeals arose from references under Section 66(2) of the Income Tax Act, 1922 concerning the assessee, a large landholder, who had inherited subst...

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High Court of Bombay at Nagpur Hears Criminal Appeal Against Acquittal in Cheque Bounce Case. Trial Court Found Cheque Dishonoured but Dismissed Complaint for Lack of Authorization of Power of Attorney Holder Under Section 138 of Negotiable Instruments Act, 1881.

The present criminal appeal arose from the acquittal of the respondent-accused in a complaint under Section 138 of the Negotiable Instruments Act, 188...

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High Court of Bombay Orders Partial Release of Goods from Court Receiver's Custody in Section 9 Arbitration Petition. Goods Not Included in Petitioner's Claim List Released on Petitioner's Consent, Pending Determination of Third-Party's Bona Fide Purchaser Status.

JSW Steel Limited entered into a Franchise Agreement dated 1 July 2018 with three sister concerns (Delta Iron & Steel Co. Pvt. Ltd., Yatin Steels Indi...

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Bombay High Court Dismisses Petition Challenging Reassessment Notice Under Section 148 of Income Tax Act for AY 2007-2008. Failure to Assess Consideration Under Distribution Agreement Constitutes Income Escaping Assessment.

The petitioner, Sun Tan Trading Co. Ltd., is engaged in the business of import and distribution of alcoholic beverages in India. It entered into a Dis...

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Bombay High Court Dismisses Writ Petition Challenging Unconditional Stay of Arbitral Award Due to Stamp Duty Deficiency. Arbitration Agreement in Unstamped Member Client Agreement Held Void Ab Initio Under Maharashtra Stamp Act, 1958.

The petitioner, M/s. Anand Rathi Share & Stock Brokers Ltd., challenged an order passed by the District Judge-1, Amravati, which granted unconditional...