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Bombay High Court Disposes of Four Petitions Under Section 9 of Arbitration Act by Common Order. Interim Measures Sought by Financing Company Against Borrower and Guarantor for Default in Loan Repayments Secured by Hypothecated Equipment.

L&T Finance Limited, a company registered under the Companies Act, 1956, filed four petitions under Section 9 of the Arbitration and Conciliation Act,...

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Bombay High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act for Lack of Reason to Believe. Transfer of Development Rights Not Constituting Transfer Under Section 2(47) of Income Tax Act, 1961.

The petitioner, Late Bharat Jayantilal Patel (since deceased through legal heir Smt. Minal Bharat Patel), challenged a notice issued under Section 148...

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Bombay High Court Upholds Penalty Under Section 271(1)(c) for Concealment of Income in Land Sale Transaction. Assessee failed to disclose receipt of advance sale consideration in return, leading to penalty for concealment.

The appellant-assessee, along with four others, executed an agreement for sale of a plot of land at Vasai on 07.12.2004 for a total consideration of R...

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Bombay High Court Dismisses Motion to Vacate Arrest of Indian Flag Vessel for Maritime Claim for Necessaries. Claim for necessaries is a maritime claim under admiralty law, and Indian courts have jurisdiction over Indian flag vessels.

The case involves a Notice of Motion filed by Amrut Dredging and Shipping Limited, a third party purchaser, seeking to vacate the arrest of the vessel...

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Supreme Court Dismisses Appeal in Partition Suit, Upholds Finding That Properties Were Self-Acquired by Sons, Not Benami. Benami Transactions (Prohibition) Act, 1988 Held Retroactive, Barring Claim Based on Benami Nature.

The present appeal arises from a partition suit filed by Smt. P. Leelavathi (since deceased, represented by legal heirs) against her brothers, the ori...

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Supreme Court Allows Appeal in IBC Limitation Dispute — Application Under Section 7 Held Barred by Limitation. Acknowledgment of Debt in Balance Sheets Does Not Extend Limitation for Initiating CIRP Under IBC.

The Supreme Court allowed the appeal filed by Babulal Vardharji Gurjar, a director of Veer Gurjar Aluminium Industries Pvt. Ltd., against the order of...