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Bombay High Court Quashes Reassessment Notice in Income Tax Case for Lack of Fresh Material. Reopening of Assessment Under Section 147/148 of Income Tax Act, 1961 Based on Mere Change of Opinion Without New Tangible Material is Invalid.

The petitioner, M/s. Crown Consultants Pvt. Ltd., a share and stock broker, filed its return of income for assessment year 2007-08 on 30 October 2007 ...

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Bombay High Court Allows Arbitration Petition and Interim Application in Share Dispute — Appointment of Arbitrator and Injunction Granted. Court holds that disputes regarding share transfer and oppression are arbitrable and appoints arbitrator under Section 11 of the Arbitration and Conciliation Act, 1996.

The petitioner, Kantilal Chhaganlal Securities Pvt. Ltd., filed an Arbitration Petition under Section 11 of the Arbitration and Conciliation Act, 1996...

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High Court of Karnataka Allows Appeal in Specific Performance Suit — Concurrent Findings of Fact Restored. Agreement of Sale Proved by Attesting Witness and Part Performance Established; First Appellate Court's Reversal Held Perverse.

The appellants, legal representatives of the original plaintiff, filed a second appeal under Section 100 CPC against the judgment and decree of the IV...

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Supreme Court Dismisses Appeals in Agricultural Land Specific Performance Case; Pendente Lite Transferees' Objections Rejected Under Section 52, Transfer of Property Act, 1882. Readiness and Willingness of Purchasers Inferred from Conduct; No Collusion Found.

The Supreme Court heard two appeals together: the first by the original seller of agricultural land challenging the concurrent findings of lower court...

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Bombay High Court Hears Appeal Under Section 37 of Arbitration Act Challenging Arbitral Award. Dispute Related to Charter Hire Agreement for Offshore Drilling, Involving Claims for Lost Equipment, Day Rates, and Demobilisation Fees.

The Bombay High Court considered an appeal under Section 37 of the Arbitration and Conciliation Act, 1996, filed by Oil and Natural Gas Corporation Lt...

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Bombay High Court Allows Appeal in Commercial Contract Dispute — Remands Suit for Fresh Consideration on Merits. Failure to Frame Issues and Conduct Trial Rendered Decree Unsustainable Under Order 41 Rule 23 CPC.

The present Commercial Appeal arises from a judgment and decree dated 09/08/2019 passed by the learned District Judge-1, Jalna, in Commercial Suit No....

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Bombay High Court Considers Section 34 Petition to Set Aside Arbitral Award for Jurisdictional Excess and Violation of Natural Justice. Petitioner Alleges Arbitrator Entertained Claims Beyond Scope of Reference and Relied on Unproved Certificates, Rendering Award Patently Illegal.

The present petition under Section 34 of the Arbitration and Conciliation Act, 1996 arose from a construction dispute between Country Club (India) Ltd...

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Supreme Court Allows Insurer's Appeal in Insurance Claim Dispute Over Depreciation Rate for Fire-Damaged Machinery. Court Holds That Insured's Failure to Reinstate Damaged Property Within Extended Time Renders Reinstatement Value Clause Inoperative, Entitling Only Market Value on Depreciation Basis.

The dispute arose from a fire accident on 12.12.1998 that destroyed the '20 Hi Cold Rolling Mill' of the insured, M/s Bhushan Steel and Strips Ltd (la...