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Bombay High Court Dismisses Revenue's Appeal in Income Tax Derivative Transaction Case. Exchange Traded Derivatives Held Not Speculative Under Section 43(5) of Income Tax Act, 1961, with Retrospective Application of Clause (d) of Proviso.

The case involves an appeal by the Commissioner of Income-tax, Central-IV against the order of the Income Tax Appellate Tribunal (ITAT) in favor of th...

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Bombay High Court Allows Appointment of Arbitrator in Slum Rehabilitation Dispute Between State of Maharashtra and Developer. Court Holds That Existence of Arbitration Clause and Failure of Respondent to Appoint Arbitrator Justifies Appointment Under Section 11 of Arbitration and Conciliation Act, 1996.

The State of Maharashtra filed a petition under Section 11 of the Arbitration and Conciliation Act, 1996, seeking appointment of an arbitrator to reso...

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Supreme Court Dismisses Appeals by Appellants -- Upholds Committee of Creditors' Approval of Sarda Energy and Minerals Limited's Resolution Plan Under Insolvency and Bankruptcy Code, 2016 -- Doctrine of Commercial Wisdom Affirmed in Insolvency Resolution

The Supreme Court upheld the approval of a Resolution Plan by Sarda Energy and Minerals Limited (SEML) for SKS Power Generation (Chhattisgarh) Ltd. un...

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Bombay High Court Dismisses Petition Challenging Arbitral Award in Coal Supply Dispute — No Ground for Interference Under Section 34 of Arbitration Act. Court upholds award of damages for short supply of coal, finding no patent illegality or conflict with public policy.

The petition under Section 34 of the Arbitration and Conciliation Act, 1996 was filed by Mahaguj Collieries Ltd. (original respondent) challenging an ...

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Supreme Court Upholds Revenue in Estate Duty Act Case Regarding Passing of Interest in Trust Shares. Beneficial Interest in Shares Held to Pass on Death of Minor Beneficiary Before Attaining Entitlement Age Under Sections 5 and 2(15) of Estate Duty Act, 1953.

The matter arose from a reference under the Estate Duty Act, 1953, concerning the estate of a beneficiary who died a minor. A deed of trust had settle...

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Bombay High Court Hears Appeals Against Orders in Section 9 Applications for Injunction in Water Supply Project Dispute. Court Examines Whether Injunction Preventing Contract Termination Amounts to Impermissible Specific Performance Under Specific Relief Act, 1963.

The matter involved two arbitration appeals arising from interim applications under Section 9 of the Arbitration and Conciliation Act, 1996. The dispu...