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Bombay High Court Allows Revenue's Appeal in Transfer Pricing Case Due to Non-Application of Mind by ITAT. Tribunal's order set aside for failing to consider the TPO's detailed analysis and rejecting comparables without proper reasoning under Section 92C of the Income Tax Act, 1961.

The appeal was filed by the Pr. Commissioner of Income Tax - 6 under Section 260A of the Income Tax Act, 1961 against the order of the Income Tax Appe...

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Bombay High Court Dismisses Appeal by Videocon Industries Against Winding Up Order for Non-Payment of Guarantee Debt to Italian Bank. Patronage Letter Held to Be a Guarantee Under Indian Contract Act, 1872, and Claim Not Time-Barred.

The case involves an appeal by Videocon Industries Limited against an order of the Company Judge directing payment of Rs.259.73 crores to Intesa Sanpa...

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High Court of Bombay Examines Challenge to Arbitral Award Directing Payment of Rs.9,28,188.45 with Interest. The petition under Section 34 of the Arbitration and Conciliation Act, 1996 arises from a member-client dispute over stock market transactions and margin shortfalls.

The petitioner filed an Arbitration Petition under Section 34 of the Arbitration and Conciliation Act, 1996 before the High Court of Judicature at Bom...

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Supreme Court Quashes Criminal Proceedings Against Guarantors in Bank Fraud Case Due to Settlement — Wives of Main Accused with No Active Role Entitled to Relief. Settlement of Civil Dues and Lack of Specific Role Justify Quashing of Charges Under Section 482 CrPC.

The Supreme Court allowed the appeal filed by K. Bharthi Devi and another (Accused Nos. 3 and 4) against the judgment of the High Court of Judicature ...

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Bombay High Court Dismisses Appeal Under Section 37 of Arbitration and Conciliation Act, 1996 — Upholds Arbitral Award Holding Stockbroker Liable for Unauthorized Trades by Agent. Broker Failed to Prove Client Authorization for Disputed Trades, Resulting in Compensation of Rs.14,37,200/- to Client.

The case involves an appeal under Section 37 of the Arbitration and Conciliation Act, 1996, filed by IIFL Capital Services Limited (formerly IIFL Secu...

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Bombay High Court Examines Whether Bunker Fuel Sales to Vessels on High Seas Are Taxable Under Maharashtra VAT Act. Petitioners Challenged Assessment Orders and Recovery Notices Claiming Sales Occurred Outside State Territory and Were in Course of Export.

The dispute arose from assessment and recovery proceedings under the Maharashtra Value Added Tax Act, 2002 concerning sales of High Speed Diesel (HSD)...

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High Court of Karnataka Directs Release of Petitioner in Multiple Cheque Dishonour Cases on Ground of Default Bail Under Section 167(2) Cr.P.C. — Petitioner Entitled to Default Bail as Investigation Not Completed Within 60 Days of Remand.

The petitioner, Smt. C. Bharathi, was arrested in multiple cases under Section 138 of the Negotiable Instruments Act, 1881, for cheque dishonour. She ...

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Supreme Court Hears Civil Appeals Concerning Applicability of Interest on Delayed Payments Act to Prior Contracts. The appeals arise from a common question of law regarding the retrospective application of the Interest on Delayed Payment to Small Scale and Ancillary Industrial Undertakings Act, 1993.

The appeals before the Supreme Court arose from a common question of law regarding the applicability of the Interest on Delayed Payment to Small Scale...