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Bombay High Court Allows Assessee's Claim for Capital Gains Treatment in Partnership Dissolution Case. Gains from Sale of Land Held as Co-owned Personal Asset Not Business Income Under Income Tax Act, 1961.

The case involved an income tax reference under Section 256 of the Income Tax Act, 1961, for the assessment year 1988-89. The assessee, an individual ...

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Bombay High Court Quashes FIR for Abetment of Suicide and Money Lending Offences — No Proximate Link Between Alleged Acts and Suicide. Failure to Repay Loan and Threats of Legal Action Do Not Constitute Abetment to Suicide Under Section 306 IPC.

The case involves two connected proceedings: a Criminal Writ Petition filed by Subhash Ramgopal Bharuka and a Criminal Application filed by Sandesh Su...

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High Court of Karnataka Quashes FIR in Criminal Breach of Trust Case — Dispute Found to be Purely Civil in Nature. Allegations of Dishonest Misappropriation of Sale Consideration Under Sections 403, 406, 420 IPC Do Not Disclose Any Criminal Offence as Transaction Was Consensual and Civil.

The petitioners, who were accused Nos. 1 and 2, filed a criminal petition under Section 482 of the Code of Criminal Procedure, 1973 (CrPC) seeking qua...

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Bombay High Court Allows Writ Petition Quashing Attachment Notices Against Third-Party Purchaser for Excise Dues of Defaulter. Central Excise Cannot Attach Property Sold Prior to Creation of Dues Without Notice to Purchaser Under Section 11 of Central Excise Act, 1944.

The Petitioner, M/s Runwal Constructions, a partnership firm registered under the Indian Partnership Act, 1932, engaged in construction and developmen...

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Bombay High Court Quashes FIR Against Bank and Employees in Loan Dispute — Dispute Held Purely Civil, No Prima Facie Case of Cheating or Criminal Breach of Trust. Allegations of Forgery and Use of Forged Documents Also Not Made Out, FIR Quashed Under Section 482 CrPC.

The judgment arises from two writ petitions filed by ICICI Bank Ltd., its employees (Zarin Daruwala, Girish Nayak, Arati Ramakrishnan, Vipul Parmar, K...

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Bombay High Court Allows Petition to Refer Dispute to Arbitration in Family Settlement Matter. Dispute regarding implementation of Escrow Agent directions under Indenture of Family Settlement held arbitrable under Sections 5 and 8 of Arbitration and Conciliation Act, 1996.

The petitioners, Basant Lall Shaw and Arbind Kumar Jayaswal, filed a writ petition under Articles 226 and 227 of the Constitution of India challenging...

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High Court of Karnataka Passes Order in Writ Petition by Company Challenging Rejection of Application Under Industrial Park Scheme, 2002. Petitioner's Application Dated 15.12.2006 Under IPS 2002 Was Rejected on Ground That Scheme Expired on 31.03.2006.

The petitioner, a private limited company, proposed to set up an industrial park named 'Salarpuria Touch Stone' in Bangalore under a Joint Development...

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Judicial Scrutiny of RBI's Supersession of Abhyudaya Co-operative Bank's Board. Balance between Constitutional mandates and banking regulations reaffirmed.

The Bombay High Court assessed the legality of the Reserve Bank of India's (RBI) supersession of the Board of Directors of Abhyudaya Co-operative Bank...