Search Results for "open market valuation"

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High Court of Karnataka Decides Revenue's Wealth Tax Appeals Involving Definition of 'Assets'. The Appeals Challenge ITAT Orders Regarding Assessment Years 1999-2000 to 2004-05 under Section 2(ea) of Wealth Tax Act, 1957.

The High Court of Karnataka heard a batch of Wealth Tax Appeals filed by the Revenue under Section 27-A of the Wealth Tax Act, 1957, against the order...

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High Court of Judicature at Bombay Hears Writ Petitions Against Charity Commissioner's Sanction for Sale of Public Trust Property — Challenge Raised on Grounds of Lack of Public Auction and Violation of Natural Justice Under Section 36 of Bombay Public Trusts Act, 1950.

The writ petitions challenged the Charity Commissioner's order dated 2/9/2011 granting sanction to the trustees of a public trust to sell trust proper...

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Gujarat High Court Dismisses Premature Challenge to Land Acquisition Valuation Committee Opinion as Award Already Passed. Petitioner failed to participate in award proceedings and challenged an intermediate opinion after the award was made, rendering the petition infructuous.

The petitioner, Bhagvanbhai Pachanbhai Nadoda, filed a Special Civil Application under Article 226 of the Constitution before the Gujarat High Court s...

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Supreme Court Upholds High Court's Decision on Auction Sale: Statutory Violations Render Sale Null and Void. Despite recognizing significant procedural breaches, the Supreme Court offers the appellant a chance to retain the industrial property by settling liabilities.

The legality of an auction sale conducted by the Tahsildar and confirmed by the Additional Collector, which was later contested on the grounds of stat...

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Bombay High Court Quashes Deficit Stamp Duty Demand on Development Agreement — Agreement Not a Conveyance Under Bombay Stamp Act, 1958. Development Agreement Held Chargeable Under Article 5(ga) at 1% of Consideration, Not Market Value.

The petitioner, M/s. Prasun Developers, challenged orders of the Joint District Registrar and Collector of Stamps, Pune, and the Deputy Inspector Gene...

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Bombay High Court Dismisses Cross Revision Applications by Tenant and Landlord in Mesne Profits Dispute. Court Upholds Small Causes Court's Fixation of Mesne Profits and 9% Interest Rate Under Section 34 CPC.

The judgment involves cross civil revision applications filed by the tenant, Bharat Petroleum Corporation Limited (BPCL), and the landlord, M/s. Forbe...