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Supreme Court Allows Donees to Lead Oral Evidence Contradicting Deed of Gift in Insolvency Proceedings Under Section 55 of Presidency-towns Insolvency Act, 1909. Section 92 of Evidence Act Held Inapplicable as Official Assignee Is Not a Representative in Interest of the Insolvent.

This appeal arose from proceedings initiated by the Official Assignee of Bombay under Section 55 of the Presidency-towns Insolvency Act, 1909, to decl...

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Bombay High Court Dismisses Housing Society's Petition Challenging Refund Order in Cooperative Dispute. Society's Demand of Rs.5,00,000 for Transfer Regularization Held Unjustified and Directed to Refund Rs.4,75,000 with Interest.

The petitioner, Alankar Sahkari Griha Rachana Sanstha Maryadit, a housing society, challenged the order dated 12th December, 2013 passed by the Mahara...

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Bombay High Court Quashes Reopening Notice Under Section 148 of Income Tax Act for Gift of Shares Without Consideration — Gift Does Not Constitute Income Escape Under the Act.

The petitioner, M/s. Jai Trust, a trust incorporated under the Indian Trust Act, 1882, challenged the legality and validity of a notice dated 12 March...

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Bombay High Court Delivers Common Judgment in Letters Patent Appeals Against Dismissal of Writ Petitions in Land Lease Resumption Case — Outcome Not Stated in Provided Excerpt

The dispute pertained to a plot of land in Bandra, Mumbai, originally leased by the Secretary of State for India in 1906 to Mrs. E.J. Menesse and othe...

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Bombay High Court Allows Pension Benefits to Retired Bank Employee Despite Delay in Deposit of Contribution Amount Under Joint Note Dated 27 April 2010. The court held that the three-day period for deposit was unreasonable and that the petitioner's substantial compliance warranted granting pension.

The petitioner, Ramesh Gajanan Nigudkar, joined the Bank of Baroda as a subordinate staff member on 4 March 1967 and retired after 39 years of unblemi...

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Madras High Court Allows Appeals of Shareholders in Capital Receipt Case — One Million Euros Received from Vedior NV Held Exempt as Capital Receipt. Compensation for Loss of Right of First Refusal and Non-Compete Agreement Treated as Capital Receipt Not Chargeable to Tax Under Income Tax Act, 1961.

The case involves two appeals by shareholders (K. Pandiarajan and R. Hemalatha) against the order of the Income Tax Appellate Tribunal (ITAT) which up...