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Bombay High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act Due to Change in Law After Finance Act, 2021. Notice Issued Under Old Regime Held Invalid as Proceedings Must Conform to Amended Provisions, with Liberty to Initiate Fresh Proceedings.

The petitioner, Nitinkumar S/o Rishiram Agrawal, filed a writ petition under Article 226 of the Constitution of India challenging a notice dated 31.03...

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Bombay High Court Allows SEBI's Appeal Against Interim Order Restraining Adjudication Proceedings. Civil Suit Against SEBI Held Not Maintainable Due to Alternative Remedy Under SEBI Act, 1992.

The case involves an appeal by the Securities and Exchange Board of India (SEBI) against an interim order passed by a Single Judge of the Bombay High ...

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High Court of Bombay at Goa Allows Tax Appeals in Income Tax Reassessment Case — Limitation for Reopening Assessment Under Section 147/148 of Income Tax Act, 1961. Reassessment Notices Quashed as Issued Beyond Four-Year Limitation Period Without Establishing Failure to Disclose Material Facts.

The case involves five tax appeals filed by M/s. Zephyr Biomedicals and M/s. Orchid Biomedical Systems against the Joint Commissioner of Income Tax, c...

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Bombay High Court Partly Allows State's Appeal in Land Acquisition Case — Reduces Enhanced Compensation from Rs.40,000 to Rs.25,000 per Acre. Claimants Failed to Prove Non-Agricultural Potential of Acquired Agricultural Land Under Section 23 of Land Acquisition Act, 1894.

The case involves two appeals by the State of Maharashtra and cross-objections by the claimants against the judgment and award dated 6.12.1990 passed ...

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Bombay High Court Dismisses Section 9 Petition Seeking Stay of Cancellation of Letter of Award in Tender Dispute. Court holds that disputes arising from pre-contractual stage are not arbitrable and interim relief under Section 9 cannot be granted when no arbitration agreement exists.

The Petitioner, Provident Multi-Trading Pvt. Ltd., filed a petition under Section 9 of the Arbitration and Conciliation Act, 1996 seeking interim reli...