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High Court of Karnataka Allows Appeal in NI Act Case — Restores Conviction for Cheque Dishonour. Presumption under Section 139 of Negotiable Instruments Act, 1881 stands unless accused rebuts with probable defence.

The appeal was filed by the complainant, Smt. G. Suma, challenging the judgment of acquittal dated 29.01.2011 passed by the Presiding Officer, Fast Tr...

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Supreme Court Allows Assessees in Interest Tax Act Case on Hire-Purchase Instalments. Hire-purchase agreements are distinct from loans, and interest component in instalments is not taxable under Section 2(7) of the Interest-Tax Act, 1974, as it does not constitute interest on loans and advances.

The dispute involved a batch of civil appeals concerning the tax liability of non-banking finance and leasing companies under the Interest-Tax Act, 19...

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High Court of Bombay at Goa Passes Judgment in Appeal Against Acquittal Under Section 138 of Negotiable Instruments Act, 1881. Whether a Cheque Issued as Security Attracts Liability Under Section 138 Remains the Central Question.

The appeal before the High Court of Bombay at Goa arose from a complaint under Section 138 of the Negotiable Instruments Act, 1881. The appellant, Goa...

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High Court of Karnataka Allows Appeal in Negotiable Instruments Act Case — Restores Conviction for Dishonour of Cheque. Complainant's Financial Capacity to Advance Loan and Legally Enforceable Debt Established, Reversing Acquittal by Sessions Court.

The appellant, Krishna Gopal Khetan, filed a criminal appeal under Section 378(4) of the Code of Criminal Procedure, 1973, challenging the judgment of...

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Bombay High Court Quashes Tribunal Order for Ignoring Binding Precedent in Section 14A Disallowance Case. Tribunal's refusal to follow earlier decision of the same court on identical issue held to be a jurisdictional error warranting interference under Article 226.

The petitioner, HDFC Bank Ltd., filed a writ petition under Articles 226 and 227 of the Constitution of India challenging an order dated 23 September ...

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Gujarat High Court Dismisses Revision Against Acquittal in Cheque Dishonour Case Due to Failure to Prove Debt and Notice. Complainant Could Not Establish Legally Enforceable Debt or Proper Service of Notice Under Section 138 of Negotiable Instruments Act, 1881.

The applicant, Dr. Anilbhai Dineshchandra Chauhan, filed a criminal revision application under Section 397 of the Code of Criminal Procedure, 1973, ch...

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Bombay High Court Quashes Reassessment Notice Against Bank in Income Tax Case for Lack of Fresh Material. Reopening of Assessment Under Section 148 of Income Tax Act, 1961 Held Invalid as Assessing Officer Had Already Considered Exemption Claim During Original Assessment.

The petitioner, State Bank of India, filed a writ petition under Article 226 of the Constitution of India challenging a notice dated 30.03.2001 issued...

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Bombay High Court Allows Appeal in Cheque Dishonour Case, Sets Aside Acquittal and Convicts Accused Under Section 138 of Negotiable Instruments Act, 1881. Presumption Under Section 139 of NI Act Shifts Burden on Accused, Which Was Not Discharged.

The appellant, Mohammad Murtuza Mohammad Yusuf, filed a complaint under Section 138 of the Negotiable Instruments Act, 1881, against the respondent, G...

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Bombay High Court Adjudicates Section 34 Petition Against Arbitral Award on Termination and Repudiation of Master Asset Purchase Agreement. Arbitrator's Finding of Repudiation by Purchaser and Direction for Refund of Consideration under MAPA Considered.

The dispute arose from a Master Asset Purchase Agreement (MAPA) dated 31st March 2005 between Siddhivinayak Realties Pvt. Ltd. as purchaser and V Hote...

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Gujarat High Court Quashes FIR in Money Laundering and Cheating Case Due to Civil Nature of Dispute. Loan Transaction and Dishonour of Cheques Do Not Attract Sections 406, 420 IPC or Sections 5, 33(3), 42 of Prevention of Money Laundering Act, 2002.

The present application was filed by the applicants (accused No.2 and another) under Section 482 of the Code of Criminal Procedure, 1973, seeking quas...