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Bombay High Court Dismisses Assessee's Appeal in Income Tax Case — Upholds Disallowance of Capital Losses and Business Loss on Guarantee Transactions. Tribunal's findings on sham transactions and lack of commercial substance affirmed under Income Tax Act, 1961.

The appellant, Killick Nixon Limited, filed an appeal under Section 260A of the Income Tax Act, 1961 against the order of the Income Tax Appellate Tri...

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Bombay High Court Hears SEBI's Application to Recall Sanction of Composite Scheme in Fertilizers Merger Case. Securities Regulator Alleges Material Non-Disclosure and Accounting Violations in Scheme Involving Listed and Unlisted Companies Under Companies Act, 1956.

The Securities and Exchange Board of India (SEBI) filed applications on 21.02.2013 seeking recall of orders of the Bombay High Court dated 17.06.2011 ...

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Karnataka High Court Pronounces Order on Constitutional Challenge to Karnataka On-demand Transportation Technology Aggregators Rules, 2016. Petitioners Assert Rules Ultra Vires Motor Vehicles Act, 1988 and Violative of Freedom of Trade and Commerce Under Articles 14, 19(1)(g), and 301 of the Constitution.

The Karnataka High Court considered a batch of writ petitions challenging the constitutional validity of the Karnataka On-demand Transportation Techno...

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Bombay High Court Hears Challenge to Sales Tax Assessment on Inter-State Movement of Brahmos Missiles for Job Work. The Court Examines Whether Transfer of Goods for Warhead Integration Constitutes Inter-State Sale Under Central Sales Tax Act, 1956.

The judgment, though incomplete in its provided excerpt, deals with a writ petition filed by BrahMos Aerospace Private Limited, a joint venture betwee...

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Bombay High Court Quashes Process Against Partners in NI Act Case for Lack of Specific Averments. Complaint failed to disclose specific role of partners in cheque issuance, making prosecution an abuse of process.

The applicants, Shivangi Garg and Indu Navin Agrawal, were arrayed as accused 3 and 4 in Criminal Complaint 1224 of 2015 filed by Anuj Shrikant Tabere...

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Bombay High Court Quashes FIR in Share Dispute Due to Civil Nature. Dispute over share purchase agreement held to be purely contractual, not constituting criminal breach of trust or cheating under Sections 406, 420, 120B IPC.

The petitioners, Rohan Dukle and Sudhir Gudal, filed a writ petition under Article 226 of the Constitution of India and Section 482 of the Code of Cri...

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High Court of Judicature at Bombay Dismisses Writ Petition Against Service Tax on Seed Supply and Allows Writ Against Sales Tax on Franchise Agreement. Technology-Embedded Seed Supply Held to Be a Sale Under MVAT Act, While Franchise Licensing Held to Be a Service Under Finance Act.

The High Court of Judicature at Bombay heard together two writ petitions concerning the tax characterisation of commercial transactions under the serv...

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Bombay High Court Quashes Onerous Bail Conditions in Commercial Dispute Case — Directs Defreezing of Bank Account. Court held that imposing condition of depositing Rs.59 crore for bail in a case arising from a commercial transaction is unreasonable and violative of Article 21 of the Constitution.

The petitioners, Vyomesh Shah, Kiran Contractor, and Suhass Dumbre, filed a writ petition under Article 226 of the Constitution of India before the Bo...

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Bombay High Court Quashes Stamp Duty Reassessment Order Due to Violation of Natural Justice and Non-Application of Mind. Collector's order set aside for failing to consider petitioner's objections and relying on unsubstantiated ready reckoner rates without providing opportunity of hearing.

The petitioner, Crystal Construction Company, challenged an order dated 16 September 2021 passed by the Collector of Stamps, Andheri, which adjudicate...

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High Court of Karnataka Hears Writ Petitions Challenging Karnataka On-Demand Transportation Technology Aggregators Rules, 2016. Petitioners Allege Rules Are Ultra Vires Motor Vehicles Act, 1988 and Violate Fundamental Rights.

The writ petitions arose from the notification of the Karnataka On-Demand Transportation Technology Aggregators Rules, 2016, by the State Government o...