Bombay High Court Quashes Order In Vistex ITC Refund Case, Remands Issue For Holistic Review

The Bombay High Court has set aside an appellate order rejecting the refund of unutilised input tax credit (ITC) claimed by Vistex Asia Pacific Pvt. Ltd., holding that the appellate authority must examine ITC refund claims on export of services in light of the full service agreement and relevant circulars before treating a provider as an intermediary. The Court observed that a selective reading of clauses is insufficient and that the matter requires fresh and holistic consideration in accordance...

Bombay High Court Grants Interim Relief To Aditya Birla Housing In Dispute With Axis Bank

The case arose after Axis Bank allowed the revival of an overdraft account and retained title deeds despite a loan takeover by Aditya Birla Housing.

Bombay High Court Grants Relief to Y-NOT Films, Disallows Income Tax Refund Adjustment Beyond 20% Of Disputed Demand

Granting relief to Y-NOT Films LLP, the Bombay High Court reiterated that the Income Tax Department could not take the entire tax refund of a later year to recover an earlier tax demand that is still under appeal. The court said that in such situations, the tax department can normally adjust only 20% of the disputed amount, unless senior tax authorities specifically approve a higher recovery. A Division Bench of Justices B.P. Colabawalla and Firdosh P. Pooniwalla was hearing a petition filed...

Bombay High Court Temporarily Bars Zee Laboratories From Using “GLYZET” Mark, Imposes ₹50 Lakh Costs

The Bombay High Court has temporarily restrained Zee Laboratories and its associated entities from manufacturing, selling or marketing diabetes medicines under the mark “GLYZET,” holding that the mark is deceptively similar to “GLIMET,” a registered trademark used by Laboratoires Griffon Pvt. Ltd. for its anti-diabetic medicine.The Court has also imposed exemplary costs of ₹50 lakh on Zee Laboratories for adopting the disputed mark in breach of earlier Court orders and for making false...

Bar On Court Granting Interim Relief Once Tribunal Is Constituted Applies Even In Foreign Arbitration: Bombay HC

The Bombay High Court has refused to grant interim relief to a Singapore-based company, holding that once a foreign-seated arbitral tribunal is constituted, Indian courts should be slow in entertaining unless the party shows that the tribunal cannot provide an effective remedy.Justice Bharati Dangre clarified that this principle applies even to foreign-seated arbitrations. While Section 9 of the Arbitration and Conciliation Act (for interim relief) can be invoked in such cases, the bar...

Complete Assignment for Consideration Prevails Over Conditional Agreement for Transfer of Future Shares: Bombay High Court

The Bombay High Court upheld an arbitral award involving a long-standing family dispute over shares in a demerged company. Justice Somasekhar Sundaresan held the arbitral tribunal's decision—that a later sale to a bona fide purchaser takes precedence over an earlier conditional arrangement—to be a plausible and well-reasoned conclusion. Background: The dispute arose from intra-family transactions within the Somani family concerning entitlement to 9.06% equity shares of Shreeniwas House...

'Karta' Personally Liable if HUF is Unable to Satisfy Arbitral Award: Bombay HC

The Bombay High Court has declared that a 'Karta' has a personal and unlimited liability for satisfying unpaid arbitral dues of a Hindu Undivided Family (HUF), thereby enabling creditors to proceed against the Karta's private assets without a separate decree.In a major boost for award creditors, the Bench of Justice R.I Chagla has held that the "seat court" retains the jurisdiction to execute an arbitral award and provide interim relief, even if the judgment debtor's assets are situated outside...

No Bar On Trademarking Hindu Deity Names If Distinctive: Bombay High Court

The court made the observation while granting interim relief to Siyaram Silk Mills Limited while restraining a Delhi apparel company from using “Siyaram” as part of its trade name.

Labour Courts Cannot Hear Employee Reinstatement Claims After Resolution Plan Approval: Bombay High Court

Relying on the Supreme Court’s ruling in Electrosteel Steel Limited, the court said that all claims not forming part of an approved resolution plan stand extinguished.

GST Refund Cannot Be Withheld Over Proposed Appeal: Bombay High Court

The Bombay High Court has held that GST authorities cannot refuse to comply with an appellate order directing a refund merely because an appeal against the order is contemplated. Such refusal is impermissible unless the appellate order is stayed or set aside. A Division Bench of Justice M. S. Sonak and Justice Advait M. Sethna was hearing a writ petition filed by Ma Agro Proprietor alleging non-compliance with an appellate order directing refund of GST along with interest. The court observed,...

Stamp Duty Exemption For IT Units Under Maharashtra Policy Applies To Expansions Too: Bombay High Court

Holding so, the Court quashed the additional stamp duty demand raised against Nitor Infotech for its new office in a private IT park located within an SEZ in Pune

IGST Refund Claims Cannot Be Rejected Under Omitted Law: Bombay High Court

The Bombay High Court has held that refund claims cannot be thrown out on the basis of a statutory rule that no longer exists and must be looked at afresh once such a rule is omitted (deleted) without any saving clause. The court set aside orders rejecting Integrated Goods and Services Tax refunds claimed by Kelvion India Private Limited and sent the matter back to the tax department for a fresh decision. A Division Bench of Justice M S Sonak and Justice Advait M Sethna noted that the...