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Bombay High Court Allows Revenue's Appeal in Income Tax Case Regarding Redemption Fine as Business Expenditure. Redemption fine of Rs. 75,00,000 paid for unauthorized import of almonds held allowable as business expenditure under Section 37 of the Income Tax Act, 1961.

The appeal was filed by the Principal Commissioner of Income Tax against the order of the Income Tax Appellate Tribunal (ITAT) which allowed the asses...

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Bombay High Court Dismisses Section 9 Petition for Lack of Territorial Jurisdiction in International Commercial Arbitration. Parties Impliedly Excluded Part I of Arbitration and Conciliation Act, 1996 by Agreeing to ICC Rules and Zambian Law.

The petitioner, Konkola Copper Mines (PLC), a company registered in Zambia, filed a petition under Section 9 of the Arbitration and Conciliation Act, ...

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Bombay High Court Dismisses Appeal by Union of India Against Acquittal in Customs Gold Smuggling Case. Failure to Examine Material Witnesses and Prove Smuggled Origin of Gold Leads to Upholding of Acquittal Under Customs Act, 1962.

The case involves an appeal by the Union of India against the acquittal of the respondent-accused for offences under the Customs Act, 1962 and the Imp...

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Supreme Court Directs Matters to Final Hearing on Whether Pre-execution Challenge to COFEPOSA Detention Orders Can Be on Grounds Beyond Alka Subhash Gadia Exceptions. The Court Examined if New Grounds Such as Absence of Live Link and Delay Could Be Used to Challenge Detention Orders Before Execution.

The Supreme Court dealt with a batch of matters challenging detention orders passed under the Conservation of Foreign Exchange and Prevention of Smugg...

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Bombay High Court Dismisses Revenue's Appeal in Slump Sale Case. Transfer of IMFL Business as Going Concern Not Subject to Capital Gains Tax Under Income Tax Act, 1961.

The case involves an appeal by the Revenue under Section 260A of the Income Tax Act, 1961 against an order of the Income Tax Appellate Tribunal (ITAT)...

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High Court of Karnataka Hears and Reserves Order on Interim Measures in Intellectual Property Dispute with Foreign Seated Arbitration. Petition Under Section 9 of Arbitration Act Questions Indian Court's Jurisdiction and Maintainability of Mandatory Injunction.

The applicant, a Singapore-incorporated company engaged in software development, filed a petition under Section 9 of the Arbitration and Conciliation ...

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Bombay High Court Sets Aside Arbitral Interim Order Restraining Non-Compete Beyond Contract Term. Arbitrator erred in treating Joint Venture Company as partnership and enforcing non-compete clause beyond its stipulated duration under Section 17 of the Arbitration and Conciliation Act, 1996.

The Commercial Arbitration Petition No.25 of 2021 was filed by Elster Instromet B.V. (Instromet) challenging an order dated 09/10/2020 passed by the A...