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Supreme Court Allows Assessee's Appeal in Income Tax Dispute Over Non-Compete Fee Taxability. Amount Received Under Deed of Covenant Held as Capital Receipt Not Taxable Under Section 28(ii)(a) of Income Tax Act, 1961, Due to Separate Genuine Transaction and Procedural Error in High Court's Judgment.

The appeal concerned the assessment year 1995-96 involving Shri Shiv Raj Gupta, Chairman and Managing Director of Central Distillery and Breweries Ltd...

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Madras High Court Upholds Termination of Dealership for Breach of No-Other-Employment Clause. Appellant's failure to disclose employment with a private company while holding a petroleum dealership constituted a material breach of the Dealership Agreement and Marketing Discipline Guidelines.

The appellant, P. Kalyanasundaravalli, was the proprietrix of M/s K.T. Bakthavatchalam Naidu Agency, an Indian Oil Corporation dealer. She was selecte...

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Bombay High Court Allows Writ Petition, Restores Eviction Decree in Sub-Lease Dispute for Breach of Covenant. Failure to pay municipal taxes and insurance premium constituted breach of condition under Section 111(g) of Transfer of Property Act, 1882, justifying forfeiture and eviction.

The petitioner, as lessor, had granted a sub-lease of land and buildings to the first respondent for 98 years. The sub-lease deed contained covenants ...

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Supreme Court Upholds Impartible Estate Status of Nazul Property in Former Ruler's Succession Dispute. Perpetual Leasehold Rights Held as Part of Impartible Estate Governed by Primogeniture, Not Coparcenary Property.

The Supreme Court of India heard civil appeals arising from a common judgment of the Allahabad High Court concerning the nature of perpetual leasehold...

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Bombay High Court Dismisses Petition Challenging Injunction in Non-Compete Clause Dispute. Temporary Injunction Granted to Restrain Former Employee from Competing with Employer for Three Years Based on Contractual Non-Compete Agreement.

The petitioner, Tapas Kanti Mandal, was employed by Cosmo Films Ltd. as a manager in its Research and Development Department from May 2003. He resigne...

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Bombay High Court Dismisses Section 9 Arbitration Petition Against Guarantors Due to Lack of Privity of Contract. Guarantee Deed Not Signed by Petitioner, No Arbitration Agreement Between Petitioner and Respondents.

The petitioner, L&T Finance Limited, filed a petition under Section 9 of the Arbitration and Conciliation Act, 1996 seeking interim relief against the...