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Supreme Court Allows Appeal in MPID Act Deposit Dispute — High Court Erred in Treating Investment as Loan Transaction. The court held that amounts advanced with promise of interest constitute 'deposit' under Section 2(c) of MPID Act, and failure to repay amounts to 'fraudulent default' under Section 3.

The present appeal arises from a judgment of the Bombay High Court dismissing the appellants' Criminal Revision Application under the MPID Act. The ap...

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High Court of Karnataka Upholds Service Tax on Restaurant Services as Valid Exercise of Union Legislative Power. Service Tax on Supply of Food and Drinks in Restaurants is Not a Tax on Sale of Goods but a Tax on Service, Falling Under Entry 97 of List I.

The case involves two intra-court appeals filed under Section 4 of the Karnataka High Court Act, challenging a learned Single Judge's common order dat...

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High Court Dismisses Assessee's Appeal in Income Tax Case — Commission Payment Disallowance Upheld. The court held that the Tribunal's finding that commission agents had not rendered services was based on valid material and sustainable under Section 37(1) of the Income Tax Act, 1961.

The appellant, The Indian Hume Pipe Co. Ltd., is a listed company engaged in manufacturing and sale of RCC pipes, steel pipes, etc. For the assessment...

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Supreme Court Allows State Appeals in Land Acquisition Case — Doctrine of Legitimate Expectation Cannot Override Statutory Acquisition Process. Industrial Development Constitutes Valid Public Purpose Under Land Acquisition Act, 1894.

The appeals arise from a common judgment of the Uttarakhand High Court dated 02.11.2018, which dismissed the appeals filed by the appellants (the Stat...

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Bombay High Court Dismisses Writ Petition Challenging Bank's Disciplinary Action and CBI Investigation in Loan Fraud Case. Show-cause notice and CBI investigation upheld as valid and not violative of natural justice.

The petitioner, Javed S/o Edirish Memon, filed a writ petition before the Bombay High Court, Nagpur Bench, challenging a show-cause notice issued by S...

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Bombay High Court Dismisses Application for Appointment of Receiver in Family Property Dispute. Plaintiff Fails to Establish Prima Facie Case for Receiver When Property is in Possession of Defendants and Alternative Remedy of Partition is Available.

The plaintiff, Jayanand Jayant Salgaonkar, filed a suit for partition and accounts against his family members, including his mother, brothers, sisters...