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Bombay High Court Dismisses Revenue's Appeal in Income Tax Derivative Transaction Case. Exchange Traded Derivatives Held Not Speculative Under Section 43(5) of Income Tax Act, 1961, with Retrospective Application of Clause (d) of Proviso.

The case involves an appeal by the Commissioner of Income-tax, Central-IV against the order of the Income Tax Appellate Tribunal (ITAT) in favor of th...

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Bombay High Court Allows Enforcement of Foreign Award in Favor of Petitioner in Arbitration Dispute. Court Holds That Award Does Not Violate Public Policy and Condoned Delay of 273 Days Under Section 5 of Limitation Act, 1963.

The petitioner, M/s. Louis Dreyfus Commodities Suisse S.A., a Swiss company, entered into a contract with the respondent, Sakuma Exports Limited, an I...

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Bombay High Court Upholds Tribunal's Decision That Customs Duty Not Part of 'Purchase Price' Under Bombay Sales Tax Act. The term 'Purchase Price' in Rule 41D does not include customs duty, and set-off under Section 75 is only for intra-State purchases.

The case involves a Sales Tax Reference under Section 61 of the Bombay Sales Tax Act, 1959 (BST Act) by the First Bench of the Maharashtra Sales Tax T...

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High Court of Judicature at Bombay Rules on Arbitration Petition No.846 of 2014 Under Section 34 of the Arbitration Act. The Court Considers Whether the Arbitral Award Dated 22 March 2014 Should Be Set Aside in Light of Various Share Sale Agreements Between the Parties.

The matter before the High Court of Judicature at Bombay arose from an arbitration petition filed by Haresh Advani under Section 34 of the Arbitration...

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High Court of Karnataka Allows Advocate's Re-Enrollment After Surrender of Sanad During COVID-19. Karnataka Advocates' Welfare Fund Act, 1983 Does Not Bar Re-Entry; Right to Practice Under Article 19(1)(g) Upheld.

The petitioner, Shri Channabasappa Lingappa Mokhashi, enrolled as an advocate with the then Mysore Bar Council on 17-07-1973 and practiced continuousl...

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Supreme Court Dismisses Appeal in Insolvency Case Over Creditor Status and Resolution Plan Approval. Statutory Authority's Claim as Financial or Secured Creditor Rejected Due to Lack of Diligent Action During Corporate Insolvency Resolution Process Under Insolvency and Bankruptcy Code, 2016.

The dispute arose from the Corporate Insolvency Resolution Process (CIRP) of M/s. JNC Construction (P) Ltd, the Corporate Debtor. The appellant, a sta...