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Bombay High Court Dismisses Section 9 Petition for Interim Measures in Family Trust Dispute, Leaves Validity of Arbitration Agreement to Arbitrator under Section 16. Beneficiary Not Signatory to Trust Deed Cannot be Non-suited at Interim Stage When Arbitrator Already Appointed.

The case involved a dispute under a family trust, the Alimchandani Family Trust, created by a deed dated 24th March 1982. The settlor was Indira Bihar...

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Bombay High Court Considers Challenge to SBI Mutual Fund Merger and Directs SEBI Impleadment to Assess Regulatory Compliance. Court Examines Maintainability Under Article 226 and the Validity of Merger Based on Prevailing NAV Without Investor Meeting in Light of SEBI (Mutual Funds) Regulations, 1996.

The Petitioner, appearing in person, filed a writ petition under Article 226 of the Constitution challenging the merger of the SBI One India Fund with...

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Bombay High Court Allows Writ Petition by Mutual Fund Against Sales Tax Reassessment Orders — Holds Mutual Fund Not a Dealer Under MVAT Act, 2002. Reassessment Proceedings Initiated Beyond Limitation Period and Without Proper Sanction Are Invalid.

The petitioner, Axis Mutual Fund, filed a writ petition under Article 226 of the Constitution of India challenging several orders passed by the sales ...

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Bombay High Court Allows Trust's Writ Petition Challenging Denial of Exemption Under Section 10(23C)(vi) of Income Tax Act, 1961. Educational Trust Running American School of Bombay Held Eligible for Exemption Despite Being a Foreign Educational Institution.

The petitioners, trustees of the American School of Bombay Education Trust, filed a writ petition challenging the order of the Director General of Inc...

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Bombay High Court Dismisses Revenue's Appeal in Income Tax Case Regarding Transaction Charges. Transaction charges paid to stock exchanges are not fees for technical services under Section 194J of the Income Tax Act, 1961, as stock exchanges perform regulatory and administrative functions.

The case involves an appeal by the Commissioner of Income Tax against the order of the Income Tax Appellate Tribunal (ITAT) regarding the assessment y...

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High Court of Karnataka Hears Revenue's Appeals Against ITAT Decision Favoring Assessee on Deduction of Distributable Surplus Payment to Brand Owner. Court Examines Whether Payment is Allowable Under Section 37 of Income Tax Act, 1961 or Constitutes Application of Income or Diversion by Overriding Title.

The present set of five tax appeals arises under Section 260-A of the Income Tax Act, 1961, filed by the Revenue against the common order of the Incom...