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Supreme Court Considers Appeal by Commissioner of Income-tax Relating to Capital Gains Tax on Resignation of Managing Agency. Key Legal Issue Whether Relinquishment Constitutes Transfer Under Section 12B of Indian Income-tax Act, 1922.

The respondent company, Provident Investment Co. Ltd., was the managing agent of two other companies and held certain shares in them. In September 194...

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Bombay High Court Decides Arbitration Petition Challenging Award in Advertising Rights Tender Dispute. Court Examines Arbitral Award Under Section 34 of the Arbitration and Conciliation Act, 1996.

The arbitration petition arose from a tender floated by Brihanmumbai Electric Supply and Transport Undertaking (BEST) on 9 November 2018 for allotment...

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NCLAT Chennai Allows Appeal of Financial Creditor in Insolvency Case, Directs Reconsideration of Resolution Plan. The Tribunal held that the Resolution Professional's failure to include the appellant in the Committee of Creditors and incorrect determination of voting shares violated the IBC, 2016.

The appeal was filed by RBL Bank Limited against the order of the National Company Law Tribunal (NCLT), Chennai, which had approved the resolution pla...

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Bombay High Court Allows Second Appeal in Specific Performance Suit, Reverses Appellate Decree on Limitation and Necessary Parties. Limitation under Article 54 of Limitation Act, 1963 begins from date of refusal to perform contract, not from occurrence of contingency.

The case involves a Second Appeal filed by the original plaintiff, Vijay Madhavrao Budhale, challenging the judgment and decree of the District Judge-...

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Bombay High Court Dismisses Appeal Against Status Quo Order in Property Dispute. Agreement for Sale and Possession Receipt Establish Prima Facie Case for Plaintiff, Restraining Defendant No. 7 from Transferring Suit Property.

The appeal challenges an order dated 11 October 2022 passed by the Extra Joint Civil Judge Senior Division, Nashik, granting temporary injunction in f...

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Bombay High Court Allows Appeal in Income Tax Case — Reassessment Notice Invalid Beyond Four Years Without Allegation of Non-Disclosure. Arbitration Award Receipt Held as Capital Receipt, Not Income Under Section 147 of the Income Tax Act, 1961.

The appellant, Ramona Pinto, an individual, filed an appeal under Section 260A of the Income Tax Act, 1961, against an order dated 2nd April 2018 pass...