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Supreme Court Allows Appeal in Specific Performance Case — Time Was Essence of Contract; Forfeiture of Earnest Money Upheld. Breach by Buyer in Agreements to Sell Land in Gurgaon Leads to Dismissal of Suit for Specific Performance and Refund of Earnest Money.

The case involves a dispute over two agreements to sell agricultural land in Gurgaon, executed on 17.02.2004, between the appellants (sellers) and the...

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Supreme Court Dismisses Appeal of Manufacturer Challenging Turnover Tax Assessment Under Karnataka Sales Tax Act. Levy of turnover tax on total turnover including interstate sales for classification purposes is constitutionally valid and does not exceed legislative competence.

The appellant, M/s. Achal Industries, a manufacturer and registered dealer of cashew kernels and cashew shell oil, was assessed for turnover tax under...

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Supreme Court Dismisses Petition Challenging GST on Lotteries — Holds Lottery as Actionable Claim and Movable Property Under CGST Act. Levy of GST on Face Value of Lottery Tickets Without Abating Prize Money Upheld as Constitutional.

The petitioner, Skill Lotto Solutions Pvt. Ltd., an authorized agent for sale and distribution of lotteries organized by the State of Punjab, filed a ...

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Supreme Court Sets Aside High Court Order Directing Restoration of Electricity Without Payment of Arrears by Sublessee. Sublessee Must Pay Over Rs. 3 Crore in Arrears of Rent, Maintenance, and Electricity Charges Before Restoration.

The Supreme Court dealt with a special leave petition filed by Infinity Infotech Parks Limited (the petitioner) against an order of the Calcutta High ...

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Supreme Court Allows Appeal in Central Excise Case — Process Not Amounting to Manufacture Under Section 2(f) of Central Excise Act, 1944. Court Holds That Internal Order Deciding Jurisdiction Is Not Appealable Under Section 35 of the Act.

The Supreme Court allowed the appeal filed by the Commissioner of Central Excise, Haldia against the order of the Customs, Excise and Service Tax Appe...

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Bombay High Court Quashes Reassessment Notice in Income Tax Case — No Failure to Disclose Material Facts. Reopening Beyond Four Years Invalid Under Section 147/148 of Income Tax Act, 1961 as Original Assessment Under Section 143(3) Was Full and True Disclosure.

The petitioner, Bajaj Auto Limited, filed its return of income for Assessment Year 2016-17 on 29 November 2016 declaring total income of Rs. 4,860,25,...

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Bombay High Court Quashes Reassessment Notice in Income Tax Case Due to Lack of Fresh Material. Reopening Under Section 148 of Income Tax Act, 1961 Based on Mere Change of Opinion on Provision for Unascertained Liabilities is Invalid.

The petitioner, Bajaj Auto Limited, filed its return of income for Assessment Year 2016-17 on 29 November 2016, declaring total income of Rs. 4,860,25...

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Bombay High Court Quashes Recovery Certificate Against Guarantor in Cooperative Bank Loan Fraud Case — Violation of Natural Justice. Failure to Provide Documents and Pass Reasoned Order Renders Recovery Proceedings Invalid Under Maharashtra Cooperative Societies Act, 1960.

The petitioner, Tarulata Amritlal Bava, filed a writ petition under Articles 226 and 227 of the Constitution challenging a Recovery Certificate dated ...