Search Results for "partnership asset"

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Supreme Court Allows Appeal of Claimant in Motor Accident Case — Functional Di...
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Search Results for "partnership asset"

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High Court

Bombay High Court Dismisses Writ Petition Challenging Section 14 SARFAESI Act Order for Police Aid — No Locus Standi for Borrower's Partner After Property Sold to Third Party. The Court held that once the secured asset is sold and possession handed over to the auction purchaser, the borrower or its partner has no right to challenge the Section 14 order, and the remedy lies before the DRT under Section 17 of the SARFAESI Act.

9 Oct 2015

The petitioners, M/s. National Laminate Corporation (a partnership firm) and its partner Mr. Jayantilal L. Nisar, filed a writ petition under Article ...

High Court

Bombay High Court Dismisses Section 9 Petition for Appointment of Court Receiver in Partnership Dispute — Petitioner Failed to Establish Strong Prima Facie Case for Interim Relief. Court held that disputes regarding partnership accounts and alleged mismanagement must be resolved through arbitration, not by appointing receiver at interim stage.

22 Aug 2014

The petitioner, Minochar @ Minoo Aspandyar Irani, filed a petition under Section 9 of the Arbitration and Conciliation Act, 1996 seeking appointment o...

Supreme Court

Supreme Court Allows Revenue's Appeal in Capital Gains Tax Case — Revaluation and Credit to Partners' Capital Accounts Constitutes Transfer Under Section 45(4) of Income Tax Act, 1961. The Court held that revaluation of assets and crediting the surplus to partners' capital accounts in a reconstituted firm amounts to distribution of capital assets, attracting capital gains tax under Section 45(4), and overruled the applicability of Hind Construction Ltd. to post-1988 amendments.

24 Nov 2022

The case involves appeals by the Revenue against the judgment of the Bombay High Court which dismissed the Revenue's appeals and confirmed the ITAT's ...

High Court

Bombay High Court Allows Arbitration Petition Challenging Arbitral Award on Grounds of Patent Illegality and Public Policy. Court sets aside award for ignoring contractual terms and failing to consider counterclaims.

29 Oct 2015

The judgment concerns two arbitration petitions arising out of the same arbitral award. The petitioners (original respondents) challenged the award un...

High Court

Bombay High Court Allows Assessee's Claim for Capital Gains Treatment in Partnership Dissolution Case. Gains from Sale of Land Held as Co-owned Personal Asset Not Business Income Under Income Tax Act, 1961.

12 Sep 2014

The case involved an income tax reference under Section 256 of the Income Tax Act, 1961, for the assessment year 1988-89. The assessee, an individual ...

High Court

Bombay High Court Dismisses Section 34 Challenge to Arbitral Award in Partnership Dispute — Upholds Award of Rs. 7.39 Crore with Interest. Limitation plea rejected as claim was within time; quantification not perverse.

2 Apr 2026

The judgment concerns a Commercial Arbitration Petition under Section 34 of the Arbitration and Conciliation Act, 1996, challenging an arbitral award ...

High Court

Bombay High Court Dismisses Applications to Recall Consent Terms and Set Aside Consent Decrees in Property Disputes Between Family Members. Court Holds That Consent Terms Recorded by Counsel Are Binding on Parties and Cannot Be Challenged on Grounds of Fraud Without Proper Pleadings and Evidence.

6 May 2014

The judgment pertains to two Notice of Motions filed by the defendants in two separate suits seeking recall and setting aside of consent terms and con...

Supreme Court

Supreme Court Reinstates Suit Filed by Legal Heirs in Partnership Dispute, Overturning High Court's Rejection of Plaint. The Court held that the plaint disclosed a cause of action under Order VII Rule 11 of the Code of Civil Procedure, 1908, and issues of partnership dissolution and legal heirs' rights under the Indian Partnership Act, 1932, are mixed questions of fact and law to be decided at trial.

21 Sep 2021

The dispute arose from a civil suit filed by the legal heirs of deceased partners of the partnership firm 'Soorajmull Nagarmull', seeking declarations...

High Court

Bombay High Court Dismisses Petition Challenging Arbitral Award in Partnership Dispute — No Grounds for Interference Under Article 227 as Arbitrator's Findings Are Plausible and Not Perverse. The court held that the High Court under Article 227 cannot reappreciate evidence or substitute its view with that of the arbitrator unless the award is perverse or suffers from jurisdictional error.

29 Apr 2026

The petitioner, Abdul Karim Noor Mohammed, filed a writ petition under Article 227 of the Constitution of India challenging an arbitral award passed b...

High Court

Bombay High Court Upholds Invalidity of Partnership Between HUF Karta and Its Member in Income Tax Registration Case. Partnership Deed Between Karta and Coparcener of Same HUF Held Void as No Valid Contract Possible Under Section 4 of Indian Partnership Act, 1932.

27 Jun 2005

The case pertains to an Income Tax Reference under Section 256(1) of the Income Tax Act, 1961, arising from the order of the Income Tax Appellate Trib...

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