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High Court of Karnataka Dismisses Telecom Companies' Appeals on Section 194H TDS Liability Against Distributors. Discounts to Channel Partners Held as Commission, Mandating Tax Deduction Under Agency Relationship.

The High Court of Karnataka heard a batch of appeals by telecom companies challenging Income Tax Appellate Tribunal orders confirming their liability ...

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Supreme Court Allows Appeal by Mortgagees in Evacuee Interest (Separation) Act Case; Rules Section 9(1) Does Not Reopen Past Interest Accounts. Interest Rate Capped at 5% Per Annum Simple from Date of Claim, Not Retrospectively, for Composite Property.

The dispute arose from a mortgage deed executed in 1928, under which the appellants were mortgagees of properties including a house, with interest at ...

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Bombay High Court Quashes FIR Against Bank and Employees in Loan Dispute — Dispute Held Purely Civil, No Prima Facie Case of Cheating or Criminal Breach of Trust. Allegations of Forgery and Use of Forged Documents Also Not Made Out, FIR Quashed Under Section 482 CrPC.

The judgment arises from two writ petitions filed by ICICI Bank Ltd., its employees (Zarin Daruwala, Girish Nayak, Arati Ramakrishnan, Vipul Parmar, K...

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Supreme Court Dismisses SLPs of Convicts in Bank Fraud Case — Upholds Conviction for Cheating and Criminal Conspiracy. Fraudulent entries in bank accounts without any instrument constituted cheating under Sections 120-B and 420 IPC.

The Supreme Court dismissed two Special Leave Petitions filed by T.R. Vijayaraman and B. Kanagarajan, who were convicted for cheating and criminal con...

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Bombay High Court Dismisses Petition Challenging Tax Deduction at Source on Land Acquisition Compensation. Section 194LA of Income Tax Act, 1961 Held Applicable at Time of Payment, Not Award Date.

The petitioners, owners of land acquired under the Land Acquisition Act, 1894, were aggrieved by the deduction of tax at source under Section 194LA of...