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Bombay High Court Dismisses Assessee's Appeal in Income Tax Case — Upholds Disallowance of Capital Losses and Business Loss on Guarantee Transactions. Tribunal's findings on sham transactions and lack of commercial substance affirmed under Income Tax Act, 1961.

The appellant, Killick Nixon Limited, filed an appeal under Section 260A of the Income Tax Act, 1961 against the order of the Income Tax Appellate Tri...

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Bombay High Court Considers Writ Petition Challenging DRAT Order on Sale of Secured Asset under SARFAESI Act. The Court Examines Whether Sale on 'As Is Where Is' Basis Was Validly Confirmed and Whether DRAT Erred in Setting It Aside.

The matter arises from a writ petition filed under Article 226 of the Constitution of India before the High Court of Bombay. The petitioner, Asset Rec...

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Bombay High Court Allows Petition of Untrained Teacher Appointed Against Reserved Post, Quashes Removal for Non-Acquisition of D.Ed. Within Five Years. The court held that the condition to acquire qualification within five years was not applicable to appointment against a reserved post under the MEPS Act.

The petitioner, Miss Sonali Mallikarjun Bedgnur, was appointed as an assistant teacher by respondent no.1, Dnyansampada Shikshan Prasarak Mandal, purs...

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High Court Dismisses Arbitration Petition Challenging Award Under Arbitration and Conciliation Act, 1996 -- MOU Found Not Amenable to Specific Performance Due to Third-Party Litigation

The High Court dismissed an Arbitration Petition challenging an Arbitral Award that rejected claims for specific performance of a Memorandum of Unders...

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Bombay High Court Dismisses Bank's Revision Against Trial Court's Jurisdiction Ruling in SARFAESI Act Suit. Civil Court Has Jurisdiction to Entertain Suit for Permanent Injunction Against Re-auction of Mortgaged Property Despite SARFAESI Act Provisions.

The respondent, original plaintiff, filed Regular Civil Suit No.1756 of 2014 seeking a permanent injunction restraining the applicant bank from re-auc...

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High Court of Bombay Dismisses Petition Challenging Arbitral Award in Railway Parcel Space Lease Dispute. Court upholds arbitrator's finding that claimant failed to prove termination of contract and is not entitled to refund of security deposit.

The petitioner, Prajapati Gunwant Keshavlal, filed a petition under Section 34 of the Arbitration and Conciliation Act, 1996, challenging an arbitral ...

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Bombay High Court Allows Revenue's Appeal in Rental Income Classification Case. Rental income from leasing unsold units of a commercial complex constructed by a real estate developer is assessable as business income, not income from house property.

The case involves multiple appeals filed by the Commissioner of Income Tax against the common order of the Income Tax Appellate Tribunal (ITAT) which ...