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Bombay High Court Dismisses Winding Up Petitions Against GOL Offshore Ltd. Due to Bona Fide Dispute and Absence of Commercial Insolvency. Debt Not Due and Payable Under Section 433(e) of Companies Act, 1956.

The judgment concerns two winding up petitions filed by Export-Import Bank of India and Punjab National Bank (International) Ltd. against GOL Offshore...

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Bombay High Court Allows Petition Challenging Market Fee on Copra as Not Notified Agricultural Produce Under APMC Act. Explanation to Rule 32(1) of Goa APMC Rules Held Ultra Vires as Copra Not in Schedule to Maharashtra Agricultural Produce Marketing (Regulation) Act, 1963.

The petitioners, Marico Industries Ltd. and Jude Linhares, filed a writ petition before the Bombay High Court at Goa challenging the demand for market...

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Bombay High Court Allows Petition Challenging Reassessment Notice Under Section 148 of Income Tax Act — Reassessment Based on Mere Change of Opinion Invalid as Full Disclosure Was Made During Original Assessment.

The petitioner, Plus Paper Food Pac Ltd., filed a writ petition challenging a notice dated 18.11.2013 issued under Section 148 of the Income Tax Act, ...

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Bombay High Court Upholds Tax on Hire Purchase Components Under Bombay Sales Tax Act — Option Money, Insurance, and Hire Premium Included in Sale Price. Hire Purchase Transaction Constitutes a Sale and Resale Deduction Under Section 8 Not Available.

The case involves two sales tax references under the Bombay Sales Tax Act, 1959, arising from the Maharashtra Sales Tax Tribunal. The applicant, M/s. ...

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Bombay High Court Allows Revenue's Appeal in Income Tax Case on Interest Income Classification. Interest income from bank deposits, intercorporate deposits, call money, debentures, and from Income Tax Department held not to be business income for deduction under Section 80HHC of the Income Tax Act, 1961.

The Revenue Department filed appeals under Section 260-A of the Income Tax Act, 1961 against the orders of the Income Tax Appellate Tribunal (ITAT) fo...

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Bombay High Court Dismisses Petition Challenging Forfeiture of Bank Guarantees in Tender Dispute. Earnest Money Deposit Forfeited as Bidder's Unilateral Discount Offer After Bid Opening Violated Tender Terms.

The petitioner, Knowledge Infrastructure Systems Pvt. Ltd., a company engaged in coal trading, along with its shareholder, filed a writ petition under...

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Bombay High Court Quashes Tender Condition in Octroi Collection Contract for Being Arbitrary and Unreasonable. Condition requiring prior experience of octroi collection in a municipal corporation with population of 10 lakhs or more held to be irrational and intended to favour predetermined bidders.

The Bombay High Court disposed of two writ petitions challenging the terms and conditions of a tender notice issued by the Nashik Municipal Corporatio...

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Bombay High Court Allows Recovery Suit by Cotton Corporation Against Textile Mill for Unpaid Price of Imported Cotton. Court holds that the plaintiff is entitled to recover the principal sum with interest at 6% p.a. from the date of suit till payment.

The plaintiff, The Cotton Corporation of India Ltd, a government undertaking and canalising agency for import of cotton, filed a suit for recovery of ...