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Madras High Court Dismisses Revenue's Appeals in Insurance Company Tax Case — Upholds ITAT Order on Disallowance of Claims and Deductions. The court held that the assessee's method of accounting for outstanding claims and the deduction under Section 80M were correctly allowed by the Tribunal.

The case involves a batch of appeals filed by the Principal Commissioner of Income Tax, Chennai, under Section 260A of the Income Tax Act, 1961, again...

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Bombay High Court Quashes Reassessment Notice in Income Tax Case Due to Change of Opinion. Notice under Section 148 of Income Tax Act, 1961 for reassessment of derivative transaction loss set aside as Assessing Officer had already examined the issue during original assessment.

The petitioner, Shrikant Phulchand Bhakkad (HUF), through its Karta, filed a writ petition under Article 226 of the Constitution of India challenging ...

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Supreme Court Appoints Sole Arbitrator in Arbitration Petition Under Arbitration and Conciliation Act, 1996. Disputes arose from Construction Management Agreements regarding completion notices and fee obligations, with the court determining arbitration under those agreements was appropriate.

The Supreme Court of India dealt with two arbitration petitions filed by DLF Home Developers Limited (DHDL) under Section 11(6) read with Section 11(1...

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Bombay High Court Dismisses Revenue's Appeal in Income Tax Case Regarding Transaction Charges. Transaction charges paid to stock exchanges are not fees for technical services under Section 194J of the Income Tax Act, 1961, as stock exchanges perform regulatory and administrative functions.

The case involves an appeal by the Commissioner of Income Tax against the order of the Income Tax Appellate Tribunal (ITAT) regarding the assessment y...

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Bombay High Court Dismisses Petition Challenging IRDA's Rejection of Insurance Broker License Transfer. Transfer of Corporate Agency License Requires Prior Approval Under Insurance Act, 1938 and IRDA Regulations.

The petitioners, including Wills India Insurance Brokers Pvt. Ltd. and others, filed a writ petition under Article 226 of the Constitution of India ch...

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Bombay High Court Initiates Contempt Proceedings for Fabricated School Leaving Certificate in Civil Suit. Court finds document fraudulent after CID investigation, imposes compensatory costs and sentences applicant and advocates for perjury and contempt.

The case arises from Suit No. 1780 of 1993 pending before the Bombay High Court. In that suit, one Madhu Lakhma Kakade filed Chamber Summons No. 220 o...

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Bombay High Court Allows Arbitration Petition in Commercial Dispute — Appointment of Sole Arbitrator under Section 11 of Arbitration and Conciliation Act, 1996. Court appoints retired judge as sole arbitrator to adjudicate disputes arising from a Master Service Agreement between parties.

The petitioner, Zanmai Labs Private Limited, filed a Commercial Arbitration Petition under Section 11 of the Arbitration and Conciliation Act, 1996, s...