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Bombay High Court Dismisses Petitioner's Challenge to Arbitral Award in Commercial Arbitration Dispute. Court upholds award under Section 34 of Arbitration and Conciliation Act, 1996, finding no patent illegality or conflict with public policy.

The petitioner, Ramakrishnan Krishnan, filed a petition under Section 34 of the Arbitration and Conciliation Act, 1996, challenging an arbitral award ...

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Bombay High Court Quashes Reopening Notice Under Section 148 of Income Tax Act, 1961 for Lack of Fresh Material. Gift of Property by Company to Director's Husband Held Not to be Income, as Assessee's Objections Were Not Properly Considered.

The petitioner, Bakhtawar Construction Co. Pvt. Ltd., a closely held company, challenged a notice dated 30 March 2013 issued under Section 148 of the ...

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High Court of Bombay at Goa Dismisses Revenue's Appeal in Income Tax Case — Disallowance Under Section 14A and Capital Expenditure on Bridge Construction. Tribunal's findings that no expenditure was incurred for earning dividend income and that bridge contribution was revenue expenditure upheld.

The case involves an appeal by the Commissioner of Income Tax against the order of the Income Tax Appellate Tribunal, Panaji Bench, which had partly a...

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Bombay High Court Allows Writ Petition by Mutual Fund Against Sales Tax Reassessment Orders — Holds Mutual Fund Not a Dealer Under MVAT Act, 2002. Reassessment Proceedings Initiated Beyond Limitation Period and Without Proper Sanction Are Invalid.

The petitioner, Axis Mutual Fund, filed a writ petition under Article 226 of the Constitution of India challenging several orders passed by the sales ...

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High Court of Karnataka Dismisses Petitions Challenging Validity of Proviso to Section 115JB(6) of Income Tax Act in SEZ Cases. The court held that the proviso inserted by Finance Act, 2011 is not ultra vires the SEZ Act and is valid and enforceable.

The case involves a batch of writ petitions filed by companies operating in Special Economic Zones (SEZs) challenging the constitutional validity of t...

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Bombay High Court Dismisses Revenue Appeal in Income Tax Case — Conditions Under Section 94(7) Are Cumulative. The court held that all three conditions in clauses (a), (b) and (c) of Section 94(7) of the Income Tax Act, 1961 must be satisfied for the loss to be ignored.

The case involves an appeal by the Revenue under Section 260A of the Income Tax Act, 1961, against the order of the Income Tax Appellate Tribunal (ITA...

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Supreme Court Allows Revenue's Appeal, Holds Managing Agents' Group Controlling Over 75% Voting Power Excludes Company from 'Public Interest' Under Section 23A. Partners of Managing Agency Forming a Controlling Group Cannot Be Counted as Public for Purposes of Exemption Under Income-tax Act, 1922.

The dispute arose under the Indian Income-tax Act, 1922, concerning the applicability of Section 23A to a company where the Income-tax Officer sought ...