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Bombay High Court Allows Petitioner in Income Tax Reassessment Case Due to Lack of Fresh Material and No Failure to Disclose. Reopening Beyond Four Years Invalid as Revenue Failed to Allege Non-Disclosure Under Section 147 of Income Tax Act, 1961.

The petitioner, Sun Tan Trading Co. Ltd., is engaged in the business of import and distribution of alcoholic beverages in India. It had entered into a...

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Bombay High Court Dismisses Petition Challenging Reassessment Notice Under Section 148 of Income Tax Act for AY 2007-2008. Failure to Assess Consideration Under Distribution Agreement Constitutes Income Escaping Assessment.

The petitioner, Sun Tan Trading Co. Ltd., is engaged in the business of import and distribution of alcoholic beverages in India. It entered into a Dis...

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High Court of Bombay Dismisses Insolvency Petition Against Debtor for Non-Compliance with Notice of Motion Requirement Under Presidency Towns Insolvency Act, 1909 — Petition Filed Within Three Months of Act of Insolvency but Notice of Motion Not Disposed of Before Petition Filing.

The Petitioning Creditor, M/s Sanskar Gem Pvt. Ltd., filed an insolvency petition under the Presidency Towns Insolvency Act, 1909, seeking an order of...

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Karnataka High Court Upholds Conviction of Accused in Prize Chit Scheme Case — Failure to Repay Subscribers Constitutes Criminal Breach of Trust. Prize Chit Activity Without Registration Under Prize Chits and Money Circulation Schemes (Banning) Act, 1978 Attracts Penalty Under Section 406 IPC.

The case pertains to a criminal revision petition filed by Sri Ravindra (since deceased) and Smt. Devamani challenging their conviction under Section ...

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Bombay High Court Quashes BPCL Circular Imposing Refill Ceiling Limits on LPG Distributors as Unilateral and Arbitrary. Distributorship Agreements Without Ceiling Limits Cannot Be Varied Unilaterally by Issuing Circulars.

The petitioners, seven LPG distributors of Bharat Petroleum Corporation Limited (BPCL), challenged a circular dated 4 January 2018 and a subsequent co...

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Bombay High Court Quashes FIR in Cheque Dishonour Case Due to Lack of Proper Service of Demand Notice. Notice sent by registered post but not actually delivered to the accused; court holds that presumption of service under Section 27 of General Clauses Act is rebuttable and not automatic.

The applicant, Girish Gangaram Chitta, filed a criminal application under Section 482 of the Code of Criminal Procedure, 1973 seeking quashing of FIR ...

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High Court of Bombay Dismisses Petitions Challenging Arbitral Award in Stock Broker Dispute. Court Upholds Arbitral Tribunal's Findings of Fact and Rejects Challenge Under Section 34 of Arbitration and Conciliation Act, 1996.

The judgment concerns multiple arbitration petitions filed under Section 34 of the Arbitration and Conciliation Act, 1996, challenging an arbitral awa...