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Supreme Court Upholds High Court in Capital Gains Tax Case — Accrual Occurs on Date of Award, Not Notification. Transfer of Capital Asset Under Section 45 of Income-tax Act, 1961 Is Complete Only When Compensation Is Determined by Collector's Award, Even if Possession Taken Earlier.

The case concerns the assessment year 1971-1972 for the assessee Amrik Singh HUF, whose land was acquired by the Haryana Government for a college play...

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Supreme Court Allows Appeal Against Unconditional Stay of Arbitral Award in Favour of State Government. Order XXVII Rule 8A CPC Does Not Mandate Unconditional Stay; Court Must Impose Conditions Under Section 36(3) of Arbitration and Conciliation Act, 1996.

The case arises from a dispute between PAM Developments Private Ltd. (appellant) and the State of West Bengal (respondent) concerning a tender for roa...

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Supreme Court Allows UPPCL Appeal in Service Termination Case Due to Delay and Lack of Parity. Termination Order Was Speaking Order with Explicit Reason; Writ Petition Filed After 12 Years Dismissed for Laches.

The Supreme Court allowed the appeal filed by Uttar Pradesh Power Corp. Ltd. (UPPCL) against the High Court's order reinstating Ram Gopal, a former Me...

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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 of Income Tax Act, 1961 Invalid When Based on Same Material Already Considered in Original Assessment.

The petitioner, Siemens Financial Services Pvt Ltd, a Non-Banking Finance Company registered with RBI, filed its return of income for Assessment Year ...

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Bombay High Court Dismisses Appeal in Trademark Infringement Suit Over 'THE ASWA' and 'ASĀVA' Marks — No Prima Facie Case for Injunction Due to Lack of Phonetic Similarity and Descriptive Nature of Mark.

The appellant, Meher Distilleries Private Limited, is the registered proprietor of the trademark 'THE ASWA' under Registration No.2716867 in Class-33 ...

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Bombay High Court Dismisses Appeal Seeking Confirmation of Share Transfer in Wound-Up Company Due to Inordinate Delay and Lack of Evidence. Section 536(2) of Companies Act, 1956 requires timely application and proof of bona fide transfer before winding up order.

The appellant, Rathnam P.V., filed an appeal against the order of the Company Judge dismissing his application under Section 536(2) of the Companies A...