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Supreme Court Allows FCI Appeal in Property Tax Exemption Case — Holds That Occupier of Central Government Property Is Not Liable Under Article 285(1) When Ownership Vests in Union. Bombay High Court Erred in Relying on Section 146 of MMC Act Without Considering Ownership Status.

The Supreme Court allowed the appeals filed by the Food Corporation of India (FCI) against the judgment of the Bombay High Court dated 05.05.2016 and ...

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Bombay High Court Allows Compounding Application in Customs Act Offense Despite Pending Criminal Prosecution. Petitioner's Fundamental Rights Protected by Directing Expeditious Consideration of Compounding Application Under Section 137(3) of Customs Act, 1962.

The petitioner, Imran Latif Shirgawkar, was arrested by the Directorate of Revenue Intelligence under Section 104 of the Customs Act, 1962, on allegat...

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Bombay High Court Allows Writ Petition of Tendu Leaves Contractors Association for Exemption from TCS under Section 206C(1A) of Income Tax Act, 1961. Contractors engaged in trading of forest produce are not liable to tax collection at source as they are not 'buyers' under the provision.

The petitioner, Gondia Beedi Leaves Contractors Association, representing contractors of Tendu leaves (a forest produce), filed a writ petition before...

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Bombay High Court Upholds DRAT Order Allowing One Time Settlement in Debt Recovery Case — Interest Must Be Calculated as Per OTS Terms. The court held that the DRT erred in not giving effect to the OTS and in calculating interest beyond the OTS terms, and the DRAT correctly set aside the DRT order.

The petitioners, Small Industries Development Bank of India (SIDBI) and India SME Asset Reconstruction Company Ltd., challenged an order dated 26th Ma...

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Bombay High Court Dismisses Winding-Up Petition by Deutsche Bank Against Finolex Industries Under Section 433(e) Companies Act, 1956 — Disputed Derivative Transaction Debt Precludes Summary Winding-Up. Court Holds That Winding-Up Petition Is Not a Debt Recovery Mechanism and Dismisses Petition with Costs.

The judgment arises from a Company Petition filed by Deutsche Bank AG, Mumbai Branch, seeking winding-up of Finolex Industries Limited under Section 4...

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Bombay High Court Dismisses Petition to Set Aside Arbitral Award in Revenue Sharing Dispute. Court upholds award granting 7% revenue share and costs, finding no patent illegality or perversity in arbitrator's interpretation of contract clauses.

The petitioner, Taj Air Ltd. (formerly Megapode Airlines Ltd.), filed a petition under Section 34 of the Arbitration and Conciliation Act, 1996, seeki...