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High Court of Karnataka Allows Writ Petition Against DRAT Order in SARFAESI Act Case — Appeal Under Section 18 Held Maintainable Despite Availability of Civil Suit. Statutory Remedy Under SARFAESI Act Cannot Be Ousted by Alternative Remedy of Civil Suit.

The petitioner, Trishul Developers, a partnership firm, had availed a loan from L & T Housing Finance Limited (respondent No.1). Upon default, the res...

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High Court of Bombay at Goa Allows Appeal Against Acquittal in Cheque Dishonour Case — Presumption Under Section 139 NI Act Not Rebutted by Accused Who Did Not Enter Witness Box. Acquittal Set Aside as Perverse; Accused Convicted and Fined ₹2,50,000 with Compensation to Complainant.

The appellant, Ivan Singh, filed a criminal appeal against the acquittal of the respondent, Shivaji Tukaram Naik, by the Judicial Magistrate First Cla...

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Bombay High Court Quashes Reassessment Notice and Order Against Co-operative Credit Society for Lack of Reasonable Belief of Income Escapement. Reopening under Section 148 of Income Tax Act, 1961 held invalid as notice was based on borrowed satisfaction and non-application of mind.

The petitioner, Mumbai Postal Employees Co-operative Credit Society Ltd., a co-operative credit society registered under the Maharashtra Co-operative ...

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Karnataka High Court Dismisses Appeal Against Acquittal in Cheque Dishonour Case as Complaint Was Time-Barred Under Section 142(b) of NI Act. Failure to File Condonation Application for Limitation Despite Objection at Trial Renders Acquittal Proper.

The appeal before the Karnataka High Court arose out of a complaint under Section 138 of the Negotiable Instruments Act, 1881, alleging dishonour of t...

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Supreme Court Upholds Conviction Under Section 138 NI Act Despite Handwriting Expert Opinion — Accused's Failure to Enter Witness Box and Explain Cheque Possession Proves Fatal

The appeal arose from a complaint under Section 138 of the Negotiable Instruments Act, 1881, filed by T.N. Channakeshava (respondent) against M. Abbas...

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Bombay High Court Dismisses Revenue's Appeal in Income Tax Case on Deduction Under Section 80IB for Interest Income from Bill Discounting. Interest received on bill discounting held to be derived from industrial undertaking and eligible for deduction under Section 80IB of the Income Tax Act, 1961.

The appeal was filed by the Revenue under Section 260A of the Income Tax Act, 1961, against an order of the Tribunal dated 15 June 2009 for assessment...

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Supreme Court Dismisses Corporate Debtor's Appeal Against NCLT Order Admitting Insolvency Application Under Insolvency and Bankruptcy Code, 2016. Maharashtra Act Moratorium Does Not Bar Insolvency Proceedings as Section 238 of the Code Overrides Inconsistent State Laws.

The appeal arose from the first application under the newly enacted Insolvency and Bankruptcy Code, 2016. The corporate debtor, a multi-product compan...