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Karnataka High Court Upholds Excise License Renewal for Bars and Restaurants Despite Minor Irregularities in Application Process. License Renewal Cannot Be Denied for Technical Defects When Licensee Has Substantially Complied with Conditions and Paid Fees.

The case involves multiple writ appeals filed by the State of Karnataka and its excise authorities against orders of a learned Single Judge directing ...

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Bombay High Court Dismisses Appeals Against Arbitral Award in Partnership Dispute — Upholds Valuation Based on Book Value as Per Partnership Deed. Clause-11 of Partnership Deed Mandates Asset Valuation on Book Value Basis, Not Market Value, Under Section 48 of Indian Partnership Act, 1932.

The case involves two appeals filed by Dr. Vijaypat Singhania and others (Appeal No. 361 of 2010) and Dr. Gaur Hari Singhania and others (Appeal No. 5...

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Bombay High Court Quashes Reopening of Assessment Under Section 148 of Income Tax Act, 1961 — No Failure to Disclose Material Facts. Retirement Receipt from Partnership Firm Held Not Taxable as Capital Receipt, Not Revenue Receipt.

The petitioner, Balkrishna Hiralal Wani, was a partner in a firm of solicitors. He retired on 20th October 2003 upon attaining the age of seventy year...