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High Court of Karnataka Adjudicates Commercial Appeal Under Section 37 of Arbitration and Conciliation Act, 1996. The Appeal Questions the Upholding of Arbitral Award Granting Remuneration and Indemnity Under Reconstitution Deed of Partnership Firm.

The present Commercial Appeal under Section 13(1A) of the Commercial Courts Act, 2015 read with Section 37(1)(c) of the Arbitration and Conciliation A...

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High Court of Karnataka Hears Two Regular First Appeals Under Section 96 CPC Against Common Judgment in Suits for Declaration, Injunction, Partition, and Dissolution of Partnership — Property Dispute Involving Sites in Mysore and Bangalore

The Regular First Appeals RFA No.37/2003 and RFA No.84/2003 were filed under Section 96 of the Code of Civil Procedure, 1908, challenging the common j...

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Supreme Court Dismisses Appeal in Partnership Dispute Over Share Entitlement. Plaintiffs Failed to Prove Capital Contribution of Rs.50,00,000 as per Partnership Deed Dated 30.10.1992, Thus Entitled Only to 10% Share in Profits and Losses Until Expulsion on 18.6.2004.

The dispute originated from a partnership firm, M/s Selwel Combines, reconstituted in 1992 with plaintiff No.1 inducted as a partner under a deed stip...

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Karnataka High Court Allows Appeal in Income Tax Case on Capital Gains Liability of Firm on Partner's Retirement. Full Bench resolves conflict under Section 45(4) of Income Tax Act, 1961 regarding liability when retiring partner receives only money for his share without distribution of assets.

The case involves an appeal under Section 260-A of the Income Tax Act, 1961, arising from an order dated 02.03.2006 in ITA No.1295/BANG/2004 for the a...

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Bombay High Court Dismisses Suit by Unregistered Partnership Firm Under Section 69 of Indian Partnership Act, 1932. Suit for Declaration and Injunction Barred as Firm Not Registered, No Exception for Suits Relating to Partnership Property Applies.

The plaintiffs, seven individuals, filed a suit seeking a declaration that they are partners of the firm Laxmi Developers and for an injunction restra...