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Supreme Court Upholds High Court in Capital Gains Tax Case — Accrual Occurs on Date of Award, Not Notification. Transfer of Capital Asset Under Section 45 of Income-tax Act, 1961 Is Complete Only When Compensation Is Determined by Collector's Award, Even if Possession Taken Earlier.

The case concerns the assessment year 1971-1972 for the assessee Amrik Singh HUF, whose land was acquired by the Haryana Government for a college play...

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Bombay High Court Dismisses Petition to Restrain Bank Guarantees in Construction Contract Dispute. Court holds that invocation of bank guarantees cannot be injuncted except in cases of fraud or irretrievable injustice, and no such case was made out.

The petitioner, Ahluwalia Contracts (India) Ltd., filed a petition under Section 9 of the Arbitration and Conciliation Act, 1996, seeking interim reli...

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Bombay High Court Dismisses Petition for Revocation of Probate in Indian Succession Act Case Due to Lack of Caveatable Interest and Proof of Adoption. Allegations of Fraud and Non-Service of Citation on Heirs Fail as Petitioner Fails to Establish Locus Standi and Execution of Will is Upheld.

The Bombay High Court heard a miscellaneous petition filed by the nephew of a deceased woman seeking revocation of a probate granted in favor of the r...

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Bombay High Court Dismisses Landowners' Petition for Enhanced Compensation in Land Acquisition Case. Market Value Determination Based on Previous Awards and Sale Instances Upheld Under Section 23 of Land Acquisition Act, 1894.

The judgment involves two writ petitions arising from land acquisition proceedings for a public purpose. The petitioners in Writ Petition No.2932 of 2...