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Bombay High Court Examines Whether Assignee Bank Can Invoke SARFAESI Act for Debt Assigned by NBFC. The case involves interpretation of 'debt' and 'secured creditor' under SARFAESI Act, 2002 and RDDBFI Act, 1993, and the effect of assignment from a non-banking financial company to a bank.

The petitioner, a banking company, sought to enforce security interest under the SARFAESI Act after acquiring a debt and underlying security from a no...

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High Court of Gujarat Examines Whether Reopening of Assessments Under Section 148 Based on Search Material is Permissible Without Invoking Section 153C. Core Legal Question Involves Overriding Effect of Search-Related Special Provisions Over General Reassessment Provisions Under the Income-tax Act, 1961.

The group of Special Civil Applications filed before the High Court of Gujarat challenged the notices issued under Section 148 of the Income-tax Act, ...

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Bombay High Court Examines Validity of Government Circulars on Teacher Seniority Under MEPS Act. Issue Concerns Inter-Se Seniority Between Originally Trained Graduate Teachers and Those Acquiring B.Ed. Later.

The High Court of Judicature at Bombay heard a batch of writ petitions concerning inter-se seniority between two classes of secondary school assistant...

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Supreme Court Allows Assessee's Appeals; Profits from Sale of Gold and Shares Held Capital Receipts Not Taxable as Income. Court Rules Transactions Were Realisation of Investment, Not Adventures in Nature of Trade, and High Court Erred in Treating Tribunal's Finding as Unreviewable Fact.

The appeals arose from references under Section 66(2) of the Income Tax Act, 1922 concerning the assessee, a large landholder, who had inherited subst...

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Bombay High Court Issues Judgment in Writ Petition for Refund of Interest Under Customs Act, 1962. Petition Seeks Refund of Interest Allegedly Illegally Recovered Without Issuing Notice Under Section 59(1) of the Customs Act.

The dispute arose from the import of spices by the petitioners, fourteen proprietary firms, who faced a refusal from the customs authorities to clear ...

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Bombay High Court Allows Registration of Deed Beyond Limitation Period by Excluding Time Taken for Stamp Duty Adjudication — Time Spent Before Stamp Authorities Must Be Excluded Under Sections 23 and 25 of Registration Act, 1908

The petitioner, V. H. Property Solution LLP, executed a Deed of Conveyance on 06.10.2015 and presented it to the Stamp Duty Authorities on 10.12.2015,...