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Supreme Court of India Decides Revenue Appeal Against Tribunal's Order on Excise Valuation of Fiat Cars. Assessee's Price Below Cost Held as Normal Price Under Section 4(1)(a) by Tribunal, Revenue Challenges on Ground That Price Did Not Reflect Manufacturing Cost and Profit.

The dispute concerned the valuation of Fiat Uno model cars for central excise duty under Section 4 of the Central Excise Act, 1944. The assessee, M/s ...

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Supreme Court Disposes of Appeals by Authority for Advance Rulings Against High Court Judgment Quashing AAR's Rejection of Treaty Benefits. Questions Raised on Taxation of Capital Gains Under India-Mauritius DTAA and Scope of Section 245R(2) Proviso (iii) of Income Tax Act, 1961.

The disputes arose from applications for advance ruling filed by three Mauritius-incorporated companies—Tiger Global International II Holdings, Tige...

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Bombay High Court Dismisses Writ Petitions Seeking Mandatory Lis Pendens Entry in 7/12 Extracts Under Maharashtra Land Revenue Code. Government Resolution Not Recording Lis Pendens Upheld as No Express Statutory Provision Mandates Such Entry.

The two writ petitions before the Bombay High Court raised a common issue concerning the mandatory recording of lis pendens entries in land records, s...

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High Court of Bombay Examines State's Challenge to Enhanced Compensation in Land Acquisition Matter; Determination of Market Value Under Section 23 of Land Acquisition Act, 1894 Considered. Reference Court's Valuation of Rs.500 per Square Metre Scrutinized Based on Comparability of Sale Instances.

The Bombay High Court, in a first appeal under Section 54 of the Land Acquisition Act, 1894, examined the State of Maharashtra's challenge to the Refe...

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High Court of Judicature at Bombay Considers Challenge to Arbitral Award Under Section 34 of Arbitration Act in Commercial Dispute. Petition Involves Interpretation of Contractual Clauses Allowing Rejection of Goods After Acceptance, Contrary to Section 42 of Sale of Goods Act.

The petitioner, a manufacturing company, issued a purchase order to the respondent, a trading company, for the supply of stainless steel seamless tube...