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Supreme Court Dismisses Revenue Appeal in Income Tax Limitation Case Under Section 144C. Nagarathna J. Holds That Section 144C Does Not Extend Limitation Under Section 153 of Income Tax Act, 1961.

This separate opinion by Nagarathna J. arises from civil appeals filed by the Revenue against a common order of the Bombay High Court. The High Court ...

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Supreme Court Dismisses Power Trust's Appeal Against CIRP Initiation for Appellant(s), Upholds NCLAT Order Admitting Section 7 IBC Application Due to Default and Non-Compliance with Restructuring Conditions

The Supreme Court dismissed an appeal challenging the initiation of corporate insolvency resolution process (CIRP) against Hiranmaye Energy Ltd. under...

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Supreme Court Adjudicates Appeals by Sahara Companies on SEBI's Regulatory Powers Over OFCDs. Case centers on Section 55A(b) Companies Act and compliance with DIP Guidelines for issuance of optionally fully convertible debentures.

The case involved two Sahara Group companies, Sahara India Real Estate Corporation Limited (SIRECL) and Sahara Housing Investment Corporation Limited ...

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Bombay High Court Quashes FIR in Franchise Dispute: Breach of Contract Not Cheating Without Fraudulent Intent. Essential Ingredients of Sections 420 and 406 IPC Not Made Out as Dispute is Purely Civil in Nature.

The applicants, directors of AN Retail Ventures Private Limited (ANR), sought quashing of FIR No.134/2021 registered at Osmanpura Police Station, Aura...

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Special Court Convicts Broker and Beneficiaries in BMC Bank Securities Fraud; Acquits Employees and Other Brokers. Broker Held Liable for Dishonest Receipt of Stolen Property Under Section 411 IPC, While Beneficiaries Convicted of Cheating Under Section 420 IPC.

The case involved a criminal trial before the Special Court under the Special Court (Trial of Offences Relating to Transactions in Securities) Act, 19...

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Bombay High Court Allows Petition in Customs Case — Redemption Fine and Penalty Reduced for Import of Used Personal Effects. Gold chain with diamond pendant held to be 'personal effects' under Baggage Rules, 1998, entitling duty-free import.

The petitioner, a US citizen of Indian origin, arrived in Mumbai on 6th May 2007 from New York. He was wearing a gold chain with a pendant embedded wi...

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Bombay High Court Finds Arbitrariness in Municipal Solid Waste Tender Process Over Single Bid Extension and Unjustified Bank Guarantee. Court Holds That Single Tender Must Be Rejected and Fresh Tenders Invited Under Government Resolution Dated 27.09.2018, and Extension After Deadline Was Arbitrary.

Background: The writ petition was filed by Janadhar Sevabhavi Sanstha, Latur, a public charitable trust engaged in solid waste management and welfare ...