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Bombay High Court Quashes Reassessment Order in Capital Gains Tax Case — Transfer of Shares of Foreign Company Not Taxable in India. Shares of a Bermuda company transferred outside India do not constitute transfer of a capital asset situated in India under Section 2(14) of the Income Tax Act, 1961.

The petitioner, Techpac Holdings Ltd., a company incorporated in Bermuda, challenged an assessment order dated 25th March 2013 passed by the Deputy Co...

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Bombay High Court Disposes Pending Applications and Show Cause Notices in Scheme of Compromise Under Section 391 of Companies Act, 1956. Criminal Proceedings Under Maharashtra Protection of Interest of Depositors Act, 1999 Allowed to Continue Notwithstanding Sanction of Scheme.

The matter arose from a scheme of compromise and arrangement proposed by Europlast India Ltd. under Section 391 of the Companies Act, 1956. The unsecu...

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Bombay High Court Revokes Probate for Non-Service of Citation on Legal Heir in Testamentary Succession Case. Failure to serve citation on a cousin who is a legal heir under the Indian Succession Act, 1925 amounts to fraud on court, warranting revocation of probate.

The petitioner, Adil Phiroz Makhania, filed a Miscellaneous Petition seeking revocation of probate granted by the Bombay High Court in Testamentary Pe...

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Bombay High Court Dismisses Petition Against Railway Land Demolition — No Encroachment Rights on Railway Land. Petitioners failed to establish any legal right to occupy railway land, and the demolition was lawful under the Railways Act, 1989.

The petitioners, seven individuals, filed a writ petition in the Bombay High Court challenging the demolition of their structures on land claimed to b...

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Supreme Court Allows Summary Judgment in Recovery Suit Against DDA for Refund of Sale Consideration After Land Acquisition Lapses. The Court held that DDA cannot retain the money after failing to convey title due to lapsing of acquisition, and the suit was within limitation.

The Supreme Court allowed the appeal against the Delhi High Court's order dismissing the appellant's application for summary judgment under Order XIII...