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Bombay High Court Dismisses Revenue's Appeal in Deemed Dividend Case Under Section 2(22)(e) of Income Tax Act. ITAT Correctly Held That Loans to Assessee Were Not Covered as Deemed Dividend Since Lender Companies Had No Accumulated Profits.

The appeal was filed by the Principal Commissioner of Income Tax (Revenue) against the order of the Income Tax Appellate Tribunal (ITAT) dated 20th Fe...

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Gujarat High Court Quashes Reassessment Notice Under Section 148A(d) of Income Tax Act for Mechanical Disposal Without Application of Mind. Failure to Consider Assessee's Detailed Response Violates Principles of Natural Justice, Rendering Subsequent Section 148 Notice Invalid.

The petitioner, Laxmi Infra Developers Limited, challenged a notice under Section 148A(b) of the Income Tax Act, 1961, dated 24.03.2022, proposing rea...

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Bombay High Court Quashes Blacklisting of Contractor Without Hearing in SEZ Contract Dispute. Blacklisting Order Set Aside as Violative of Natural Justice Principles Under Raghunath Thakur Precedent.

The petitioner, Nawab Ali Khan, a contractor providing services to the Special Economic Zone Authority (respondent no.2), was blacklisted for one year...

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Bombay High Court Dismisses Application for Rejection of Plaint in Specific Performance Suit — No Concluded Contract Found. Agreement to Sell Not Finalized as Parties Did Not Reach Consensus on Essential Terms, and Suit Barred by Limitation Under Article 54 of Limitation Act, 1963.

The plaintiff, Shree Construction Company, filed a suit for specific performance of an alleged agreement to sell a property against the defendants, in...

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Bombay High Court Allows Petition in Customs Case — Redemption Fine and Penalty Reduced for Import of Used Personal Effects. Gold chain with diamond pendant held to be 'personal effects' under Baggage Rules, 1998, entitling duty-free import.

The petitioner, a US citizen of Indian origin, arrived in Mumbai on 6th May 2007 from New York. He was wearing a gold chain with a pendant embedded wi...

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Bombay High Court Quashes Arrest Order Against Guarantors in DRT Recovery Proceedings — Recovery Officer Cannot Order Arrest Without Prior Notice and Hearing Under Section 25 of RDDBFI Act, 1993

The petitioners, Kishor K. Mehta and Rajesh K. Mehta, were directors and guarantors of Beautiful Diamonds Company Limited, which had availed loan faci...