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Supreme Court Upholds Income Tax Department's Reassessment in Escaped Assessment Case Due to Assessee's Failure to Disclose. Non-Disclosure of Firm Income and Unexplained Investments Attracted Section 34(1)(a) of Income-tax Act, 1922, Validating Reassessment for Assessment Year 1944-45.

The appeals arose from reassessment proceedings under section 34 of the Indian Income-tax Act, 1922 concerning a Hindu Undivided Family for the assess...

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Special Court at Bombay Delivers Judgment in Securities Fraud Case — Accused Face Charges Under IPC and Prevention of Corruption Act for Cheating, Forgery, and Criminal Conspiracy

This criminal case arises from the 1992 securities scam, which severely impacted India's economy. The prosecution alleged that multiple accused person...

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High Court of Gujarat Upholds Disciplinary Action Against Chartered Accountant for Professional Misconduct in Bank Audit. Failure to Report Irregular Loans and Deficient Documentation Constitutes Negligence Under Section 21(5) of the Chartered Accountants Act, 1949.

This is a case reference under Section 21(5) of the Chartered Accountants Act, 1949, arising from a complaint by Smt. Prabha S. Prasad, General Manage...

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Bombay High Court Upholds Petitioner Company in Reduction of Share Capital Case Under Sections 100-104 of Companies Act, 1956. Court-Ordered Valuation Found Plausible; Minority Objectors Failed to Prove Unfairness.

Cadbury India Limited filed a petition under Sections 100 to 104 of the Companies Act, 1956, seeking sanction of a special resolution for reduction of...

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Supreme Court Adjudicates Appeals by Sahara Companies on SEBI's Regulatory Powers Over OFCDs. Case centers on Section 55A(b) Companies Act and compliance with DIP Guidelines for issuance of optionally fully convertible debentures.

The case involved two Sahara Group companies, Sahara India Real Estate Corporation Limited (SIRECL) and Sahara Housing Investment Corporation Limited ...

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CRIMINAL WRIT PETITION NO. 3301 OF 2018

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