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Bombay High Court Allows Revenue Expenditure Claim for Floor Height Raising in Warehouse to Prevent Flood Damage. Expenditure incurred to protect business and retain major customer is revenue expenditure under Section 37(1) of Income Tax Act, 1961.

The appellant, Jetha Properties Private Limited, was a warehouse keeper operating a warehouse in an area prone to severe water logging during monsoon....

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Bombay High Court Dismisses Petitioner's Challenge to Disqualification from Tender for Violation of Non-Compete Clause. Clause 8.31 of Licence Agreement Between GTI and JNPT Prohibited Promoters from Bidding for Competing Projects, and Subsequent Government Policy Could Not Be Read into Existing Contract.

The petitioner, APM Terminals B.V., a Dutch company, along with Container Corporation of India Ltd (CONCOR), formed a joint venture company called Gat...

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Bombay High Court Dismisses Debtors' Motion to Set Aside Insolvency Notice in Consent Decree Dispute. Failure to Pay Agreed Amount by Stipulated Date Renders Debtors Liable for Full Decretal Amount Under Presidency Towns Insolvency Act, 1909.

The petitioning creditor, Videocon Industries Ltd., filed Suit No. 1891 of 2000 against M/s Akar Laminators and the two judgment debtors, V.T. Seth & ...

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Bombay High Court Quashes Minister's Remand Order in Co-operative Society Dispute, Directs Fresh Hearing on Merits. Appellate Authority Under Section 152 of Maharashtra Co-operative Societies Act, 1960 Must Decide Appeal on Merits, Cannot Simply Remand.

The petitioners, members of respondent no.2, a specified co-operative society engaged in sugar manufacturing, challenged an order dated 18th January 2...

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Bombay High Court Allows Appeal in Cooperative Society Dispute Over Member Access to Documents. Right of Members to Inspect and Obtain Copies of Society Records Under Section 147 of Maharashtra Cooperative Societies Act, 1960 is a Statutory Right Not Subject to Unreasonable Restrictions.

The appellant, Sadashivrao Mandlik Kagal Taluka Sahakari Sakhar Karkhana Ltd., a specified cooperative society engaged in sugar manufacturing, appeale...

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Bombay High Court Allows Withdrawal of Proportionate Share of Royalty in Partnership Dispute Pending Arbitration. Petitioners permitted to withdraw 65% of royalty deposited by respondent as agent with Court Receiver under Section 9 of Arbitration and Conciliation Act, 1996.

The petitioners, partners of a firm governed by a partnership deed dated 20 November 1995, referred a dispute to arbitration. The arbitration was pend...

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Bombay High Court Dismisses Petitions Challenging Cooperative Bank Recovery Proceedings Under Maharashtra Cooperative Societies Act, 1960 — Petitioners Failed to Show Any Error in the Award or Recovery Certificate.

The judgment concerns a batch of writ petitions filed by various individuals (the petitioners) against Shamrao Vithal Cooperative Bank Ltd. (the respo...

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Bombay High Court Allows Bank to Participate in Auction of Attached Sugar Stock in Workers' Dues Recovery Case. The court held that the direction to recover under MLR Code was beyond Section 33C(1) of Industrial Disputes Act, 1947, but permitted the bank to participate in auction of attached sugar.

The Maharashtra State Cooperative Bank Ltd. (petitioner) had advanced loans to Yashwant Sahakari Sakhar Karkhana (respondent No.4), a sugar factory, a...

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Bombay High Court Dismisses Revenue's Appeal in Deemed Dividend Case Under Section 2(22)(e) of Income Tax Act. ITAT Correctly Held That Loans to Assessee Were Not Covered as Deemed Dividend Since Lender Companies Had No Accumulated Profits.

The appeal was filed by the Principal Commissioner of Income Tax (Revenue) against the order of the Income Tax Appellate Tribunal (ITAT) dated 20th Fe...