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Bombay High Court Allows Section 34 Petition and Sets Aside Ex Parte Arbitral Award for Lack of Proper Notice. Arbitrator Directed to Give Fresh Notice to All Parties Before Proceeding.

The petitioners, Mrs. Prajakta Mahesh Joshi and Mr. Mahesh Shrikrishna Joshi, filed a petition under Section 34 of the Arbitration and Conciliation Ac...

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Bombay High Court Dismisses Challenge to Arbitral Award in Loan Dispute, Upholds Financer's Claim. Court holds that existence of arbitration agreement is not a jurisdictional issue under Section 16 of Arbitration and Conciliation Act, 1996, and the award is not patently illegal.

The judgment concerns two arbitration petitions: Arbitration Petition No. 783 of 2011 filed by the borrowers (M/s. Sahyadri Earthmovers and its partne...

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Bombay High Court Quashes TPO Order in Transfer Pricing Adjustment for Demerger Transaction. Held that transfer pricing provisions under Section 92 of Income Tax Act, 1961 do not apply to a demerger approved by High Court where assets and liabilities are transferred at book value without any consideration.

The petitioner, Times Global Broadcasting Company Ltd, a wholly owned subsidiary of Benett, Coleman and Company Ltd (BCCL), was engaged in distributio...

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Bombay High Court Allows Arbitration Petition in Commercial Dispute — Appointment of Sole Arbitrator under Section 11 of Arbitration and Conciliation Act, 1996. Court appoints retired judge as sole arbitrator to adjudicate disputes arising from a Master Service Agreement between parties.

The petitioner, Zanmai Labs Private Limited, filed a Commercial Arbitration Petition under Section 11 of the Arbitration and Conciliation Act, 1996, s...

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Bombay High Court Partly Allows Landlords' Revision and Tenant's Challenge in Rent Dispute Under Maharashtra Rent Control Act, 1999 — Standard Rent Fixed at Rs.6,000 Per Month. Revisional Court's Determination of Standard Rent Upheld as Reasonable Based on Market Rates and Location.

The dispute pertains to two writ petitions arising from a landlord-tenant relationship concerning a shop/flat in Nagpur. The landlords, Satyanarayan a...

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Bombay High Court Partly Allows State's Appeal in Land Acquisition Compensation Case — Market Value Reduced from Rs. 200 to Rs. 150 per sq.meter. Comparable Sale Instances of Small Plots Require Deduction for Development When Applied to Large Acquisitions Under Section 23 of Land Acquisition Act, 1894.

The State of Maharashtra appealed against the judgment of the Reference Court in Land Reference No. 1 of 1987, which had enhanced the compensation for...

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Bombay High Court Allows Appeal in Land Acquisition Compensation Case — Reference Court Erred in Rejecting Claim Without Considering Evidence. Enhancement of Compensation Granted Based on Comparable Sale Instances Under Section 18 of the Land Acquisition Act, 1894.

The appellant, Luis Alex Cardozo, owned land in Margao, Goa, which was acquired by the respondents (Deputy Collector and Executive Engineer) for the c...

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Bombay High Court Allows Mesne Profits Claim in Ownership Dispute Over Flat. Court holds that plaintiffs established ownership of suit flat and defendants are liable to pay mesne profits for illegal occupation.

The plaintiffs, Mrs. Tarla N. Morjaria, Mrs. Usha S. Somana, and Mrs. Bharati V. Tanna, filed a suit against the defendants, Mr. Bipin Hiralal Shah an...

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Bombay High Court Allows Depreciation on Original Cost in Amalgamation Case Under Rule 10 of Income Tax Rules. Notional Depreciation to Non-Resident Parent Does Not Reduce Written Down Value for Successor Company.

The case involves an Income Tax Reference under section 256(1) of the Income Tax Act, 1961, arising from the assessment years 1976-77, 1977-78, and 19...