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Bombay High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act for Lack of Fresh Material. Transfer of Shares as Gift During Internal Restructuring Not Constituting Income Escape Assessment When Full Disclosure Made During Scrutiny.

The petitioner, Asian Satellite Broadcast Pvt. Ltd., a private limited company engaged in trading, investment, and finance, filed its return of income...

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Supreme Court Allows Appeal in ACP Scheme Dispute — Deployment as Radio Telephone Operators Held Not a Promotion. Reorganisation of Posts Without Selection Process Does Not Disentitle Employees to Assured Career Progression Benefits Under Office Memorandum Dated 9.8.1999.

The appellants, Telephone Operators with the Delhi Fire Service (DFS), were deployed as Radio Telephone Operators (RTOs) in a higher pay scale followi...

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Bombay High Court Quashes BPCL Circular Imposing Refill Ceiling Limits on LPG Distributors as Unilateral and Arbitrary. Distributorship Agreements Without Ceiling Limits Cannot Be Varied Unilaterally by Issuing Circulars.

The petitioners, seven LPG distributors of Bharat Petroleum Corporation Limited (BPCL), challenged a circular dated 4 January 2018 and a subsequent co...

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Supreme Court Upholds NCLAT Decision on Mandatory 75% Voting Share for Resolution Plan Approval Under I&B Code. Financial Creditors' Rejection of Resolution Plan for Kamineni Steel & Power India Pvt. Ltd. and Innoventive Industries Ltd. Leads to Liquidation as Plan Did Not Garner Required Majority.

The Supreme Court of India heard appeals arising from a common judgment of the National Company Law Appellate Tribunal (NCLAT) dated 6 September 2018,...

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Bombay High Court Dismisses Petition Challenging Interim Arbitral Award in Loan Dispute. Court upholds arbitrator's power to pass interim award under Section 31(6) of Arbitration and Conciliation Act, 1996 for admitted liability of Rs.100 crores.

The petitioners, Deccan Chronicle Holdings Limited and Mr. T. Venkatram Reddy, filed a petition under Section 34 of the Arbitration and Conciliation A...