Specified development authority income receives retrospective tax exemption, subject to non-commercial activity, unchanged income sources, and return-...
Unified Brand India framework introduces voluntary Trust Mark certification and funding support for export branding, packaging and global promotional ...
Origin Declaration authentication governs preferential tariff claims under India-UK CETA, requiring a validated reference number before import clearan...
Separate assessment orders for different years remain valid when distinct notices and hearing opportunities prevent prejudice from combined proceeding...
Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
The HC allowed enforcement of the foreign arbitral award against the respondents, holding that objections under Section 48 were untenable. The Court found the award did not direct a company "buyback of shares" and rejected attempts to treat surrender of shares as such. Challenges based on the doctrine of election, alleged contravention of Section 16(b) or Sections 10(b)/14(1)(a)/20 of the Specific Relief Act, waiver, improper delegation, non-consideration of material issues, and alleged fraud were dismissed as merits-based re-appraisals improper in enforcement proceedings or as insufficiently pleaded. Transnational issue-estoppel and comity considerations were acknowledged, but did not preclude enforcement; petition dismissed and award declared enforceable under Sections 47-49.
The HC allowed enforcement of the foreign arbitral award against the respondents, holding that objections under Section 48 were untenable. The Court found the award did not direct a company "buyback of shares" and rejected attempts to treat surrender of shares as such. Challenges based on the doctrine of election, alleged contravention of Section 16(b) or Sections 10(b)/14(1)(a)/20 of the Specific Relief Act, waiver, improper delegation, non-consideration of material issues, and alleged fraud were dismissed as merits-based re-appraisals improper in enforcement proceedings or as insufficiently pleaded. Transnational issue-estoppel and comity considerations were acknowledged, but did not preclude enforcement; petition dismissed and award declared enforceable under Sections 47-49.
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