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High Court of Bombay Dismisses Petition Challenging Arbitral Award in Insurance Dispute — Loss of Profit Claim Rejected Due to Flood Exclusion Clause. The court upheld the arbitrator's finding that 'inundation' was excluded under the Loss of Profit (Fire) Policy, and the claim was not maintainable.

The petitioner, Agrocel Industries Pvt. Ltd., was engaged in the production of Marine Chemical Bromine and had availed a 'Loss of Profit (Fire) Policy...

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Bombay High Court Dismisses Insurance Company's Challenge to Arbitral Award on Fire Insurance Claim. Reinstatement Value Claim Allowed Despite Delay in Replacement; Acceptance Under Protest Not Full Settlement; Interest at 18% Upheld.

The New India Assurance Company Limited (Petitioner) issued two fire and special perils insurance policies to M/s. Alan Scott Industries Limited (Resp...

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Bombay High Court Dismisses Revenue Appeal in Income Tax Case, Holds Compensation for Loss of Agency as Capital Receipt. Amount received by assessee for giving up right to use trade mark and resigning as director is capital receipt not taxable under Section 2(24) and Section 4 of Income Tax Act, 1961.

The case involves an appeal by the Commissioner of Income Tax against the order of the Income Tax Appellate Tribunal allowing the appeal of the assess...

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High Court of Gujarat Dismisses Petition by Employer in Departmental Inquiry Case Due to Procedural Flaws. Tribunal's Order Quashing Dismissal Upheld as Inquiry Failed to Lead Oral Evidence, Violating Principles of Natural Justice Under Gujarat Civil Services Tribunal Rules.

The dispute involved a petition filed by the District Development Officer and another petitioner challenging the judgment of the Gujarat Civil Service...