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Bombay High Court Quashes FIR in Criminal Case Due to Lack of Evidence and Abuse of Process — Quality of a Nation's Civilization Measured by Methods Used in Enforcement of Criminal Law.

The petitioner, Chandrashekhar Bhimsen Naik, filed a writ petition under Article 226 of the Constitution of India read with Section 482 of the Code of...

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Supreme Court Upholds Firm's Ownership Over Property Contributed by Partner in Hotel Partnership Case. Relinquishment Deed and Partnership Act Section 14 Confirm Property as Firm Asset, Not Inheritable by Legal Heirs.

The dispute arose from a partnership firm, M/s Hotel Alka Raje, constituted in 1972 by late Bhairo Prasad Jaiswal and his brother Hanuman Prasad Jaisw...

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Bombay High Court Grants Interim Injunction to Plaintiff in Trademark Infringement and Passing Off Case. The court restrained the defendant from using deceptively similar 'PRINCE' and crown device marks for PVC pipes, finding a strong prima facie case of infringement and passing off.

The plaintiff, Prince Pipes and Fittings Ltd., a Mumbai-based company, has been using the mark 'PRINCE' and a 'crown device' since 1987 for manufactur...

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Supreme Court Allows Appellant in SEBI PFUTP Regulations Case Due to Non-Disclosure of Investigation Report. The Court Held That the Investigation Report Under Regulation 9 Must Be Disclosed to Ensure a Fair Hearing Under Principles of Natural Justice, as It Forms the Basis for the Show Cause Notice.

The dispute arose from a show cause notice issued by SEBI to the appellant, alleging violations of the SEBI (Prohibition of Fraudulent and Unfair Trad...

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Bombay High Court Quashes FIR and Section 156(3) Order in Stockbroker-Client Dispute. Dispute over share transactions held to be civil, not criminal, under Section 409 IPC.

The petitioners, Nirmal Bang Securities Private Limited (a stockbroking company) and its directors, filed a writ petition under Article 226 of the Con...

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High Court of Karnataka Dismisses Revenue's Appeal in Block Assessment Case — Unexplained Investments Not Proven as Income. The court held that the Assessing Officer failed to establish that the cash credits and investments belonged to the assessee, and the ITAT correctly deleted the additions.

The case involves appeals by the Revenue under Section 260A of the Income Tax Act, 1961, against the common order of the Income Tax Appellate Tribunal...

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Bombay High Court Dismisses Appeal in Stock Exchange Membership Dispute — Upholds Resolution Declaring Member Defaulter for Non-Payment of Security Deposit. Resolution Passed by Council of Management Valid Under Bye-Law 312 and Articles of Association.

The appellant, Sanjay Munot, was a member of the Pune Stock Exchange Limited (the respondent company) and carried on business as a share broker. In 19...

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Bombay High Court Upholds Tribunal's Decision Allowing Interest Deduction Under Section 36(1)(iii) for Dealer in Shares. Interest on Borrowed Funds for Investment in Shares Held as Stock-in-Trade is Business Expenditure, Not to be Reduced from Dividend Income Under Section 57(iii) of Income Tax Act, 1961.

This is a reference under Section 256(1) of the Income Tax Act, 1961, at the instance of the Revenue, arising from the order of the Income Tax Appella...