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Supreme Court Upholds Pre-emptive Purchase Order Under Income Tax Act for Undervalued Property. Appropriate Authority's Valuation Based on Comparable Sales Upheld as Reasonable.

The Supreme Court dismissed appeals by prospective buyers (Krishna Kumar Rawat & Ors.) and partly allowed the appeal by the Union of India against a H...

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Bombay High Court Quashes Stay Order in Income Tax Dispute — Directs Fresh Consideration of Stay Application on Merits. Revenue directed to pass a reasoned order on the stay application after hearing the assessee, considering the strong prima facie case and financial hardship.

The petitioner, HDFC Bank Limited, challenged an order dated 18 March 2013 passed by the Assistant Commissioner of Income Tax - 2(3), Mumbai, which di...

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Bombay High Court Dismisses Petition Challenging Arbitral Award in Stock Trading Dispute — No Grounds for Interference Under Section 34 of Arbitration and Conciliation Act, 1996. Arbitrator's Findings on Contract Notes and Liability Upheld as Not Patently Illegal.

The petitioner, Kalyansinh K. Kumpavat, filed an arbitration petition under Section 34 of the Arbitration and Conciliation Act, 1996, challenging an a...

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Bombay High Court Dismisses Appeal Against Order for Evidence Recording in Testamentary Dispute — Order Not a Judgment Under Clause 15 of Letters Patent. Preliminary Objection Upheld as Impugned Order Did Not Decide Substantive Rights of Parties.

The appeal arose from an order dated 30 August 2011 of a learned Single Judge of the Bombay High Court in a testamentary matter. The background involv...