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Bombay High Court Upholds Disciplinary Action Against Chartered Accountant for Professional Misconduct in Loan Transaction. Failure to Repay Loan Obtained from Client Constitutes Misconduct Under Chartered Accountants Act, 1949.

The Institute of Chartered Accountants of India (ICAI) filed a reference under Section 21(5) of the Chartered Accountants Act, 1949, against the respo...

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Bombay High Court Allows Section 9 Petition for Interim Relief and Appoints Sole Arbitrator in Waste Management Contract Dispute — Petitioner Granted Protection Against Termination and Bank Guarantee Invocation Pending Arbitration.

The petitioner, PMP Infratech Pvt Ltd, an AA Class Government Registered Civil Contractor, was engaged by the respondent, Bharat Petro Resources Ltd (...

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Supreme Court Dismisses Appeal in Capital Gains Tax Case — Transfer of Property Not Completed Under Section 2(47)(v) of Income Tax Act, 1961. Agreement to Sell and Power of Attorney Did Not Confer Possession or Part Performance Under Section 53A of Transfer of Property Act, 1882.

The appellant-assessee, M/s Seshasayee Steels P. Ltd., entered into an agreement to sell on 15.05.1998 with Vijay Santhi Builders Ltd. for sale of lan...

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High Court of Karnataka Quashes Rejection of Nomination for Waqf Board Election Due to Non-Application of Mind. Petitioner's Candidature as Muslim Advocate Member Under Section 14(1)(b)(iii) of Waqf Act, 1995 Upheld.

The petitioner, Mr. Asif Ali Shaikh Hussain, filed a writ petition under Articles 226 and 227 of the Constitution of India seeking to quash the order ...

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Bombay High Court Dismisses Revenue Appeals in Service Tax on Maintenance Charges — Management, Maintenance or Repair Service Not Attracted. Amounts collected as maintenance charges for upkeep of apartment premises are not subject to service tax under the Finance Act, 1994.

The judgment involves three appeals filed by the Commissioner of Service Tax/Central Excise against orders of the Customs, Excise & Service Tax Appell...