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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 PIL Challenging Water Supply to Industries from Irrigation Dams — No Legal Right to Challenge Government Policy on Water Allocation. Court Held That Petitioners Failed to Establish Any Violation of Fundamental Rights or Statutory Provisions.

The judgment pertains to two writ petitions filed as Public Interest Litigations (PILs) before the Bombay High Court. The first petitioner, Suresh Ram...

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High Court Condemns Demolition by Municipal Corporation Under Guise of DCPR 2034 Redevelopment Scheme. Appeal from Order Dismisses Demolition as High-handed and Illegal Under Regulation 33(9) of Development Control and Promotion Regulation 2034.

The matter pertains to an appeal from order filed by M/s. Mehta & Co., a partnership firm through its partner Mr. Adarsh Varma, as original plaintiff,...

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Bombay High Court Allows Appeal Against Admission of Winding Up Petition Due to Bona Fide Counterclaim. Company's claim for damages exceeding admitted debt constitutes a substantial defence under Section 434 of the Companies Act, 1956.

The appellant, Prime Broking Company (India) Ltd., appealed against an order dated 28 June 2016 passed by the Company Judge admitting a winding up pet...

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Bombay High Court Allows Appeal Against Admission of Winding Up Petition Due to Bona Fide Counterclaim. Company's claim for damages exceeding admitted debt constitutes a substantial defence under Section 434 of the Companies Act, 1956.

The appellant, Prime Broking Company (India) Ltd., appealed against an order dated 28 June 2016 passed by the Company Judge admitting a winding up pet...

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Bombay High Court Allows Resolution Professional to Continue CIRP Under IBC Despite Pending Winding-Up Petition Under Companies Act, 1956. Leave under Section 446 of Companies Act, 1956 granted to proceed with Corporate Insolvency Resolution Process under Insolvency and Bankruptcy Code, 2016.

The judgment concerns Company Application No. 10 of 2017 filed by the Resolution Professional of Murli Industries Limited (the corporate debtor) under...

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High Court of Bombay at Goa Dismisses Petition Challenging MBBS Seat Allotment Based on NEET Scores — No Right to Claim Admission Beyond Published Merit List. Petitioners, who were not in the merit list, had no vested right to challenge allotment to other candidates.

The petitioners, Kum. Pujal V. Nayak and Kum. Annabelle Melanie Gomes, filed a writ petition before the High Court of Bombay at Goa challenging the al...

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High Court Allows Bank Appeal, Holds Guarantors Liable for Loan Recovery; Trial Court's Dismissal Against Guarantors Reversed. Equitable Mortgage by Deposit of Title Deeds Valid and Suit Within Limitation as Guarantors Agreed to be Bound by Principal Borrower's Acknowledgment.

The dispute arose from a loan recovery suit filed by Allahabad Bank against the principal borrower and six guarantors. The bank had sanctioned a loan ...

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Bombay High Court Dismisses Petitions Challenging AAIFR Order Rejecting Revival Scheme for Sick Company Under SICA. The court held that the AAIFR's findings on non-compliance and lack of feasibility were based on evidence and not perverse, thus no interference under Article 226 was warranted.

This group of writ petitions challenges a common order dated 28/5/2010 passed by the Appellate Authority for Industrial and Financial Reconstruction (...