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High Court of Karnataka Allows Appeal in NI Act Case — Acquittal Set Aside Due to Improper Appreciation of Evidence. Presumption under Section 139 of Negotiable Instruments Act, 1881 Not Rebutted by Accused.

The appellant, M. Nagappa, filed a criminal appeal under Section 378(4) of the Code of Criminal Procedure, 1973, against the judgment and order of acq...

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Supreme Court Dismisses Appeal in Partition Suit, Upholds Finding That Properties Were Self-Acquired by Sons, Not Benami. Benami Transactions (Prohibition) Act, 1988 Held Retroactive, Barring Claim Based on Benami Nature.

The present appeal arises from a partition suit filed by Smt. P. Leelavathi (since deceased, represented by legal heirs) against her brothers, the ori...

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Supreme Court Dismisses Assessee's Appeal: Profit from Share Sales Held as Trading Income, Not Capital Gain. Purchase and Quick Resale of Shares with Borrowed Funds and Debiting Interest as Revenue Expenditure Indicated a Well-Planned Scheme to Earn Profits under the Income Tax Act, 1922.

The assessee firm, Juggilal Kamlapat, Kanpur, was engaged in promoting companies and financing sister concerns of the J.K. Group. During the assessmen...

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Madras High Court Upholds Conviction in Cheque Dishonour Case — Compensation of Rs.25,75,765 Upheld. Presumption under Section 139 of Negotiable Instruments Act, 1881 stands unless accused rebuts with probable defence.

The case arises from a criminal revision petition filed by K.M. Lakshmi Devi, proprietor of M/s Sri Varun Enterprises, challenging her conviction unde...

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Bombay High Court Considers Administrator’s Report for Recovery of Diverted Estate Assets in Testamentary Suit. Court Appointed Administrator Seeks Directions Against Defendant for Unauthorized Diversion of Deceased’s Funds to Various Entities.

The matter concerned the administration of the estate of Purvez Burjor Dalal, who died in Mumbai on 7 December 2011. A testamentary suit was institute...