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Bombay High Court Allows Bank's Revision and Appeal in SARFAESI Act Case — Civil Suit Barred Under Section 34. Jurisdiction of Civil Court is Ousted When Secured Creditor Takes Action Under SARFAESI Act for Enforcement of Security Interest.

The case involves a civil suit filed by Sagar and Saurabh Deshmukh (original plaintiffs) against their father Pramod Deshmukh, mother Vrunda Deshmukh,...

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Bombay High Court Dismisses Revenue's Appeal in Share Broker Bad Debt Case — Affirms Deduction Under Section 36(1)(vii) of Income Tax Act. Amounts Advanced for Client Transactions Constitute Business Debts Allowable as Bad Debts Even if Only Commission Was Credited to Profit and Loss Account.

The appeal by the Revenue arose from a decision of the Special Bench of the Income Tax Appellate Tribunal dated 16 July 2010. The assessee, Shri Shrey...

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Bombay High Court Dismisses Second Appeal in Partition Suit — Concurrent Findings of Fact Not Disturbed Under Section 100 CPC. Court holds that no substantial question of law arises when courts below have concurrently found that suit property is joint family property and plaintiff is entitled to share.

The present second appeal was filed by the original defendants No.2 to 4 against the judgment and decree passed by the District Judge, Latur, in Regul...

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Bombay High Court Upholds Specific Performance Decree Based on Oral Agreement — Concurrent Findings of Fact Not Interfered With in Second Appeal. Oral Agreement for Sale of Immovable Property Proved by Evidence; Written Document Dated 31.12.1973 Did Not Supersede Earlier Oral Agreement.

The case involves a second appeal filed by the defendants challenging concurrent judgments and decrees passed for specific performance of an agreement...