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Supreme Court Dismisses Cooperative Society's Appeals Challenging Sale Deeds Executed in Favor of Members. Arbitrator under Delhi Cooperative Societies Act lacks jurisdiction to adjudicate validity of registered sale deeds, which can only be challenged before civil court.

The Supreme Court dismissed the appeals filed by Delhi Dayalbagh Cooperative House Building Society Ltd. against the orders of the Delhi High Court, w...

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Supreme Court Dismisses Revenue's Appeal in Income Tax Act Case Upholding Revisional Jurisdiction. Commissioner Validly Set Aside Assessment Order as Payment to Shareholders Was Not 'Cost of Improvement' Under Capital Gains Computation Under Sections 48 and 263 of Income Tax Act, 1961.

The dispute arose from an income tax assessment concerning the sale of a property named 'Paville House' by the respondent assessee, a company engaged ...

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Bombay High Court Upholds Specific Performance Decree Based on Oral Agreement — Concurrent Findings of Fact Not Interfered With in Second Appeal. Oral Agreement for Sale of Immovable Property Proved by Evidence; Written Document Dated 31.12.1973 Did Not Supersede Earlier Oral Agreement.

The case involves a second appeal filed by the defendants challenging concurrent judgments and decrees passed for specific performance of an agreement...

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Bombay High Court Dismisses Second Appeal, Upholds Specific Performance Decree for Oral Agreement to Sell Land. Concurrent Findings of Fact Not Interfered With as Plaintiff Proved Readiness and Willingness Under Section 16(c) of Specific Relief Act, 1963.

This second appeal arises from a suit for specific performance of an oral agreement to sell agricultural land. The plaintiff (now represented by legal...

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Bombay High Court Dismisses Appeals Against Arbitral Award in Partnership Dispute — Upholds Valuation Based on Book Value as Per Partnership Deed. Clause-11 of Partnership Deed Mandates Asset Valuation on Book Value Basis, Not Market Value, Under Section 48 of Indian Partnership Act, 1932.

The case involves two appeals filed by Dr. Vijaypat Singhania and others (Appeal No. 361 of 2010) and Dr. Gaur Hari Singhania and others (Appeal No. 5...

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Supreme Court Upholds High Court in Capital Gains Tax Case — Accrual Occurs on Date of Award, Not Notification. Transfer of Capital Asset Under Section 45 of Income-tax Act, 1961 Is Complete Only When Compensation Is Determined by Collector's Award, Even if Possession Taken Earlier.

The case concerns the assessment year 1971-1972 for the assessee Amrik Singh HUF, whose land was acquired by the Haryana Government for a college play...