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Bombay High Court Dismisses Cross Execution Applications in Share Sale Dispute, Holds Loan Included in Consideration. The court upheld the decree for specific performance of an email agreement, ruling that the loan amount of Rs.10,32,55,000/- was part of the Rs.36.75 crore consideration.

The case arises from a dispute between two groups, the Kotharis and the Agarwals, who were equal shareholders in a company called Special Ear, Nose an...

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Bombay High Court Allows Writ Petitions Challenging Rejection of Provisional Release of Seized Goods Under Customs Act — Directs Release on Conditions. Joint Commissioner's order set aside as not considering Section 110A of Customs Act, 1962; goods to be released on bank guarantee and bond.

The Bombay High Court disposed of two writ petitions filed by Himgiri Buildcon & Industries Limited and Agsons Agencies (I) Private Limited against th...

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Madras High Court Grants Injunction Under Section 9 of Arbitration Act to Protect Decree-Holder's Interest Pending Execution. Court Restrains Respondents from Alienating Property Subject to Execution Petition to Prevent Frustration of Arbitral Decree.

The applicant, C.J. Charles Rajkumar, proprietor of M/s Kiruba Constructions, filed an application under Section 9 of the Arbitration and Conciliation...

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High Court of Karnataka Quashes Reassessment Order and Notice Under Section 148A(d) and 148 of Income Tax Act, 1961 for Lack of Proper Application of Mind. Reassessment Initiated Based on Information from Investigation Wing Without Independent Satisfaction by Assessing Officer.

The petitioner, Mr. Sanath Kumar Murali, filed a writ petition under Articles 226 and 227 of the Constitution of India before the High Court of Karnat...

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Bombay High Court Quashes Assessment Orders for Violation of Natural Justice in Transfer Pricing Adjustment. Failure to Provide TPO's Draft Order and Opportunity of Hearing Renders Proceedings Void Ab Initio Under Sections 144C and 92CA of Income Tax Act, 1961.

The petitioner, Undercarriage and Tractor Parts Pvt. Ltd., filed its return of income for Assessment Year 2015-2016 on 30 September 2015 declaring a l...