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Bombay High Court Allows Originating Summons in Trust Interpretation Case Under Rule 238. Court Holds That Questions Regarding Interpretation of Superannuation Trust Deed Are Maintainable Under Rule 238 of Bombay High Court (Original Side) Rules.

The present Originating Summons was filed by the plaintiffs, Mr. S. Sundara Raman and another, seeking interpretation of certain clauses of a trust de...

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High Court of Karnataka Hears Revenue's Appeals Against ITAT Decision Favoring Assessee on Deduction of Distributable Surplus Payment to Brand Owner. Court Examines Whether Payment is Allowable Under Section 37 of Income Tax Act, 1961 or Constitutes Application of Income or Diversion by Overriding Title.

The present set of five tax appeals arises under Section 260-A of the Income Tax Act, 1961, filed by the Revenue against the common order of the Incom...

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High Court of Bombay Considers Interim Motions in Suit by Foreign Trustees for Recovery of Assets Allegedly Concealed in India. The Court Examines Whether Plaintiffs Have Made Out Prima Facie Case for Disclosure and Deposit Orders Based on US Bankruptcy Court Findings.

The suit was filed by ITC Ltd., acting as trustees in bankruptcy of Suresh Chitalia, Devang Chitalia, EST Fibres Inc., and Lokman Establishment, to re...