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Bombay High Court Allows Appeal in Part in Flat Purchase Dispute — Earnest Money Refund with Daily Fine and Compound Interest Upheld but Reduced. Clause 4 of Agreement for Construction and Sale Held to Be a Valid Forfeiture Clause, Not a Penalty, Under Section 74 of the Indian Contract Act, 1872.

The plaintiff, Dr. Jagdish J.N. Counte, entered into a written agreement dated 13.4.96 with the defendant, M/s. Carl Estate Private Limited, for the p...

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Supreme Court Allows Appeals of Land Holders in Land Acquisition Compensation Case Under Punjab Town Improvement Act, 1922. Compensation Enhanced to Rs.6,62,800/- Per Acre Based on Comparable Sales Method with 6% Cumulative Annual Increase.

The Supreme Court considered appeals by land holders whose land was acquired for the Transport Nagar Scheme, Rupnagar, under the Punjab Town Improveme...

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KAHC010028192013_1

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High Court of Karnataka Adjudicates TDS Obligations of Turf Clubs on Stake Money Payments to Horse Owners under Income Tax Act. Interpretation of Section 194B and CBDT Circulars Central to Dispute over Characterization of Stake Money as Winnings.

The case involved writ petitions filed by Bangalore Turf Club Limited, Mysore Race Club Limited, Karnataka Race Horse Owners Association, and an indiv...

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Supreme Court Dismisses Appeal by Builder in Consumer Dispute Over Double Allotment and Forfeiture. Purchase of Flat for Director's Personal Use Held Not Commercial, Affirming Consumer Status Under Section 2(7) of Consumer Protection Act, 2019.

The respondent, Kushalraj Land Developers Pvt. Ltd., a real estate company, booked a flat in the appellant's project 'Omkar 1973 Worli' for the reside...

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Bombay High Court Dismisses Summary Judgment in Commercial Suit for Unpaid Rent, Grants Unconditional Leave to Defend. Triable issues raised regarding termination of lease and liability of partners under the Indian Partnership Act, 1932.

The plaintiff, PVR Ltd., filed a Commercial Summary Suit against the defendants, Proetus Ventures LLP and its partners, Shardul Bayas and Abhinay Rame...