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Madras High Court Allows Assessee's Appeal in Income Tax Penalty Case — Typographical Error in Return Does Not Attract Penalty Under Section 271(1)(c). Bonafide belief and full disclosure of transaction negate mens rea for concealment.

The appellant, Ms. Saritha Jain, an income tax assessee, sold her shares in M/s. Vision Health Services (P) Ltd., an Indian company, to M/s. Perot Sys...

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Gujarat High Court Dismisses Appeal Against Decree of Specific Performance and Mesne Profits. Notarized but Unregistered Agreement to Sell Held Void Under Registration Act, 1908.

The present appeal was filed under Section 96 of the Code of Civil Procedure, 1908 challenging the judgment and decree dated 08.05.2024 passed by the ...

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NCLAT Considers Appeal Against NCLT Order Dismissing Application to Prevent Deduction from Resolution Plan Payout in CIRP of Amtek Auto Limited. CoC's Commercial Wisdom Under IBC and Permissibility of Deduction for Pre-CIRP Recoveries Examined by Appellate Tribunal.

(1) Background: The appeal arises from the Corporate Insolvency Resolution Process (CIRP) of M/s. Amtek Auto Limited, initiated on 24 July 2017 on an ...

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Supreme Court Dismisses Appeal Against Refusal to Quash Summons in Cheque Dishonour Case — Factual Defences Cannot Be Adjudicated Under Section 482 CrPC. Legal Presumption Under Section 139 of Negotiable Instruments Act, 1881 Favours Complainant at Pre-Trial Stage.

The appellant, Rathish Babu Unnikrishnan, was the accused in a criminal complaint filed by Satish Gupta (respondent no. 2) under Section 138 of the Ne...

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High Court of Karnataka Hears Writ Petition Seeking Enforcement of RBI COVID-19 Moratorium Package. Petitioner Challenges Banks' Denial of Moratorium Under RBI Circular Dated 27.03.2020.

Velankani Information Systems Limited, a company operating an IT park and a five-star hotel in Bengaluru, availed term loans aggregating Rs. 475 crore...

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Bombay High Court Dismisses Appeal Against Consent Award in Arbitration — Consent Terms Cannot Be Unilaterally Withdrawn After Being Acted Upon. Arbitrator Not Required to Deliver Signed Award Under Section 31(5) When Award Is Made in Terms of Consent Terms Under Section 30.

The appellant, M/s. Pandi Devi Oil Private Limited, filed a petition under Section 34 of the Arbitration and Conciliation Act, 1996 challenging an arb...