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Bombay High Court Quashes Reassessment Notice and Order in Income Tax Case Due to Lack of Full and True Disclosure Finding and Non-Disposal of Objections. Reopening Beyond Four Years Invalid as No Failure to Disclose Material Facts Alleged Under Section 147 First Proviso of Income Tax Act, 1961.

The petitioner, Crystal Pride Developers, a partnership firm engaged in real estate development, filed its original return of income for Assessment Ye...

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Bombay High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act, 1961 for Lack of Fresh Material. Reopening Based on Same Facts as Original Assessment Without New Tangible Material is Invalid.

The petitioner, Noshir Darabshaw Talati, an individual assessed to income tax for over three decades, filed his return of income for Assessment Year 2...

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Bombay High Court Dismisses Challenge to Maharashtra's Loan Waiver Scheme for Farmers — Scheme Held Not Arbitrary or Unconstitutional. Court finds that the classification based on loan amount is reasonable and does not violate Article 14 of the Constitution.

The petitioner, Sanjaykumar Bhalchandra Patil, a farmer from Jalgaon, filed a writ petition under Article 226 of the Constitution of India challenging...

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High Court of Karnataka Allows Writ Petition of Bank Manager Dismissed for Loan Irregularities, Quashes Dismissal Order Due to Violation of Natural Justice and Lack of Evidence. Denial of Cross-Examination and Reliance on Unproved Documents Renders Disciplinary Proceedings Invalid.

The petitioner, V.V. Kamath, was working as Branch Manager at Panambur Branch, Mangalore, in the Bank of Baroda. On allegations of irregularities in a...

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Bombay High Court Grants Leave to Defend in Summary Suit for Recovery of Loan Based on Dishonoured Cheques — Defendant Raises Triable Issues Including Running Account, Collateral Security, and Validity of Presentment.

The plaintiffs, M/s. Ashok Commercial Enterprises and another, filed a summary suit against Parekh Aluminex Limited for recovery of Rs. 68,37,96,666/-...