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Supreme Court Allows Assessee's Appeal in Income Tax Dispute Over Non-Compete Fee Taxability. Amount Received Under Deed of Covenant Held as Capital Receipt Not Taxable Under Section 28(ii)(a) of Income Tax Act, 1961, Due to Separate Genuine Transaction and Procedural Error in High Court's Judgment.

The appeal concerned the assessment year 1995-96 involving Shri Shiv Raj Gupta, Chairman and Managing Director of Central Distillery and Breweries Ltd...

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Bombay High Court Holds Respondents in Contempt for Breach of Injunction Order. Resolutions Increasing Authorised Capital and Alloting Shares While Restrained from Exercising Rights on Shares Amount to Wilful Disobedience.

The appeal arose from Suit No.3121 of 2004, where the appellants (original plaintiffs, Gopal L. Raheja & Anr.) claimed that the respondents (original ...

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Supreme Court Upholds SEBI Order Against Corporate Giant in Futures Manipulation Case. The Court held that cornering 93.63% open interest through agents and dumping shares to depress settlement price constituted fraud under PFUTP Regulations.

The case involves appeals by Reliance Industries Limited (RIL) against orders of the Securities Appellate Tribunal (SAT) which upheld SEBI's findings ...

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Bombay High Court Considers Challenge to Revision Order in FCCB Capital Gains Case; Cost of Acquisition Dispute Between FCCB Scheme and Section 49(2A) of Income-tax Act Examined. Revenue Relied on Section 49(2A) While Petitioner Invoked Clause 7(4) of the 1993 Scheme.

The writ petition under Article 226 was filed before the Bombay High Court challenging an order dated 29 March 2018 passed by the Commissioner of Inco...

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NCLAT Chennai Allows Appeal of Financial Creditor in Insolvency Case, Directs Reconsideration of Resolution Plan. The Tribunal held that the Resolution Professional's failure to include the appellant in the Committee of Creditors and incorrect determination of voting shares violated the IBC, 2016.

The appeal was filed by RBL Bank Limited against the order of the National Company Law Tribunal (NCLT), Chennai, which had approved the resolution pla...

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WRIT PETITION NO.730 OF 2009

The four writ petitions arose from income tax assessment proceedings concerning the transfer of shares of Idea Cellular Limited (formerly Birla Commun...

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High Court of Bombay Hears Appeal Challenging CLB Order Allowing Ingress into Plant Disputed under Business Transfer Agreement. Court Notes Contradictory Affidavits and Abuse of Process by Appellant in Claiming Possession.

The appeal arose from a Company Law Board order allowing Respondent No. 2, Rajinder Kumar Malhotra (RKM), access to Plant No. 2 of Vidyut Metallics Pv...

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High Court of Judicature at Bombay Considers Arbitration Petition No. 1070 of 2011 Under Section 45 of the Arbitration and Conciliation Act, 1996. The Petition Seeks Reference to ICC Arbitration in Dubai Pursuant to a Share Purchase Agreement; the Judgment Text is Incomplete.

The matter arose from a Share Purchase Agreement (SPA) dated 10 December 2004 between Welspun Trading Limited (transferor) and Eupec PipeCoatings GmbH...