Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
The doctrine of forum non conveniens was applied to determine the maintainability of a petition u/s 11 of the Arbitration and Conciliation Act, 1996. The Court held that Part I of the Act is applicable only where the arbitration takes place in India or the law governing the arbitration agreement is Indian law. For agreements executed after 06.09.2012, if the seat of arbitration is outside India, Part I is inapplicable. For pre-06.09.2012 agreements, Part I is inapplicable if parties have excluded its application by designating a foreign seat or governing law. The seat cannot be determined by the 'Closest Connection Test' but by express designation or significant indicia. Where multiple possible seats exist, forum non conveniens determines the appropriate seat considering parties' intentions and convenience. The petition was dismissed as the seat was not in India, nor was the agreement governed by Indian law.
The doctrine of forum non conveniens was applied to determine the maintainability of a petition u/s 11 of the Arbitration and Conciliation Act, 1996. The Court held that Part I of the Act is applicable only where the arbitration takes place in India or the law governing the arbitration agreement is Indian law. For agreements executed after 06.09.2012, if the seat of arbitration is outside India, Part I is inapplicable. For pre-06.09.2012 agreements, Part I is inapplicable if parties have excluded its application by designating a foreign seat or governing law. The seat cannot be determined by the 'Closest Connection Test' but by express designation or significant indicia. Where multiple possible seats exist, forum non conveniens determines the appropriate seat considering parties' intentions and convenience. The petition was dismissed as the seat was not in India, nor was the agreement governed by Indian law.
Note: It is a system-generated summary and is for quick reference only.