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Bombay High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act, 1961 for Lack of Fresh Material. Reassessment based on mere change of opinion on share premium addition under Section 68 is invalid as all material was disclosed during original assessment.

The petitioner, Rajshree Realtors Private Limited, a real estate company, filed its return of income for Assessment Year 2012-2013 declaring income of...

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Supreme Court Upholds Ban on Apartmentalisation in Chandigarh Residential Plots to Preserve City's Original Character. Fragmentation of single dwelling units into multiple apartments violates Rule 16 of Chandigarh Estate Rules, 2007 and the Chandigarh Master Plan 2031.

The case involves a Public Interest Litigation filed by the Chandigarh Citizens Forum (appellants) against the Chandigarh Administration and others, s...

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Supreme Court Allows NCDC's Appeal in Income Tax Dispute Over Deduction of Grants as Revenue Expenditure. Grants disbursed by a statutory corporation as part of its business are deductible under Section 37 of the Income Tax Act, 1961, regardless of the capital nature of the source funds.

The National Co-operative Development Corporation (NCDC), established under the National Co-operative Development Corporation Act, 1962, is a statutor...

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Bombay High Court Grants Interim Injunction Under Section 9 of Arbitration Act to Prevent Payment to Contractor Pending Arbitration — Share Subscription Agreement and Concession Agreement Form Composite Transaction

The petitioner, Welspun Enterprises Limited, filed a petition under Section 9 of the Arbitration and Conciliation Act, 1996, seeking an interim injunc...

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Bombay High Court Dismisses Appeal Against Refusal to Refer Dispute to Arbitration Under Section 8 of Arbitration and Conciliation Act, 1996 — Joint Venture Agreements Not Signed by Appellant, No Arbitration Agreement Between Parties.

The appeal arose from an order dated 8 April 2004 passed by the learned trial Judge dismissing Notice of Motion No. 778 of 2004, which was an applicat...