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Supreme Court Allows Assessee's Appeal in Income Tax Dispute Over Non-Compete Fee Taxability. Amount Received Under Deed of Covenant Held as Capital Receipt Not Taxable Under Section 28(ii)(a) of Income Tax Act, 1961, Due to Separate Genuine Transaction and Procedural Error in High Court's Judgment.

The appeal concerned the assessment year 1995-96 involving Shri Shiv Raj Gupta, Chairman and Managing Director of Central Distillery and Breweries Ltd...

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Supreme Court Dismisses Appeals in Company Law Dispute Over Maintainability of Oppression and Mismanagement Petition. Nomination Under Section 72 of Companies Act, 2013 Vests Rights in Nominee, Excluding Legal Heirs from Claiming Shares for Petition Maintainability Under Sections 241 and 242.

The dispute arose from a family tussle following the death of Mr. Abhey Kumar Oswal, who held significant shares in Oswal Agro Mills Ltd. and Oswal Gr...

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Supreme Court Allows Appeal of Employee Retired Prematurely Based on Deemed Age — Resolution Cannot Override Service Rules. The Court held that the Board's resolution deeming age as 18 on appointment date could not reduce the actual retirement age under Rule 73 of the Bihar Service Code.

The appellant, Gopal Prasad, was appointed as Calligraphist-cum-Assistant of the Bihar School Examination Board on 20 May 1970 at about 15½ years of ...

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Supreme Court Dismisses Appeal in Partnership Dispute, Upholds Dissolution Over Retirement. Court clarifies distinction between retirement of a partner and dissolution of a partnership firm under the Partnership Act, 1932.

The Supreme Court dismissed the appeals filed by Guru Nanak Industries and Swaran Singh (since deceased, represented by legal representatives) against...

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Supreme Court Grants Interim Protection to Journalist in Multiple FIR Case Based on News Broadcasts. Court Transfers One FIR for Investigation, Stays Other Proceedings, and Emphasizes Balance Between Freedom of Speech and Criminal Process Under Article 19(1)(a) and Article 32 of the Constitution.

The dispute arose from two news broadcasts by the petitioner, a journalist and editor-in-chief of Republic TV and R Bharat, on 16 April 2020 and 21 Ap...

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Supreme Court Upholds Arbitral Award in Contract Dispute Over 'Change in Law' Clause — High Court Exceeded Jurisdiction Under Section 37 of Arbitration Act. Interpretation of contractual clause by Arbitral Tribunal was plausible and not perverse, hence not liable to be set aside under Section 34.

The Supreme Court allowed the appeal filed by South East Asia Marine Engineering and Constructions Ltd. (SEAMEC Ltd.) against the judgment of the Gauh...