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Bombay High Court Dismisses Petition Challenging Reassessment Notice Under Section 148 of Income Tax Act for AY 2007-2008. Failure to Assess Consideration Under Distribution Agreement Constitutes Income Escaping Assessment.

The petitioner, Sun Tan Trading Co. Ltd., is engaged in the business of import and distribution of alcoholic beverages in India. It entered into a Dis...

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Supreme Court Considers Scope of Section 45 of Arbitration and Conciliation Act in International Commercial Disputes. Multiple Issues Framed on Reference to Arbitration in Multi-Party Joint Venture Agreements.

The dispute arose from a series of joint venture and ancillary agreements executed between Indian company Chloro Controls (I) P. Ltd. and foreign coll...

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Supreme Court Dismisses Appeal in Insolvency Case Due to Lack of Financial Creditor Status. Interest-Free Term Loan Does Not Qualify as Financial Debt Under Section 5(8) of the Insolvency and Bankruptcy Code, 2016 as It Lacks Consideration for Time Value of Money.

The appeal arose under Section 62 of the Insolvency and Bankruptcy Code, 2016 (IBC) against the dismissal by the National Company Law Appellate Tribun...

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High Court of Bombay Hears Arbitration Petition Under Section 34 of the Arbitration and Conciliation Act, 1996. Award of 14 January 2006 on Share Valuation Under Clause 7 of Protocol Agreement Challenged on Grounds of Jurisdiction and Legality of the Agreement.

The matter arose from a petition under Section 34 of the Arbitration and Conciliation Act, 1996 filed by Western Maharashtra Development Corpn. Ltd. c...

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Bombay High Court Hears Writ Petition Challenging Grant of Alewadi Port Project to Third Party Under Maharashtra Maritime Board Policies. Petitioner Alleges Arbitrary Treatment and Non-Consideration of Original Proposal Contrary to Port Policies.

The dispute concerns the development of a multipurpose port at Alewadi in Maharashtra under the state's port policies. Petitioner, a UK-based private ...

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High Court of Madras Disposes of Batch of Writ Petitions Challenging Income Tax and GST Assessment Orders, Suo Motu Impleads State Bank of India. No specific legal finding or ratio is discernible from the available text.

The High Court of Madras heard a batch of writ petitions filed by multiple corporate entities, including Aqua Terra Coke and Energy Limited (formerly ...