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Bombay High Court Quashes Circular Issued by Registrar of Cooperative Societies for Test Audit Without State Government Approval. Registrar Lacks Authority Under Section 81(3)(c) of Maharashtra Cooperative Societies Act, 1960 to Issue Such Directions.

The petitioner, Maharashtra State Cooperative Patsanstha Federation Ltd., a federation of cooperative credit societies registered under the Maharashtr...

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High Court of Karnataka Allows Appeal in Income Tax Case — Capital Gain Not Included in Book Profit Under Section 115JB. Income from capital gain on sale of land held as investment cannot be included in book profit for MAT purposes under Section 115JB of the Income Tax Act, 1961.

The appeal was filed by Sri Hariram Hotels (P) Ltd. against the order of the Income Tax Appellate Tribunal (ITAT), Bangalore Bench, relating to the as...

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Bombay High Court Dismisses Petition of Kerosene Dealers' Association Challenging Inclusion of VAT in Ceiling Price. State's Power to Fix Maximum Price Including Taxes Upheld Under Essential Commodities Act, 1955.

The petitioners, Mumbai Kerosene Dealers' Association and its members, who are wholesale kerosene dealers holding licences under the Maharashtra Keros...

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Bombay High Court Dismisses Petition Challenging Arbitral Award in Hotel Sale Dispute. Court upholds award of Rs.1.88 crore with interest for breach of contract, rejecting grounds under Section 34 of Arbitration and Conciliation Act, 1996.

The petitioner, Sahara Hospitality Limited (formerly Batra Hospitality Private Limited), filed a petition under Section 34 of the Arbitration and Conc...

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Bombay High Court Dismisses Borrowers' Writ Petitions Challenging SARFAESI Proceedings by Cooperative Bank — Alternative Remedy Under Section 17 of SARFAESI Act Held Efficacious. Petitioners Directed to Approach Debt Recovery Tribunal for Relief Against Recovery Actions.

The judgment concerns a batch of writ petitions filed by borrowers (Arun Dattatraya Narake and others) against the Authorized Officer of Kolhapur Dist...

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High Court Dismisses Petition of Cooperative Society Seeking Division of Assets Under Section 79 of Maharashtra Cooperative Societies Act. Court Holds That Section 79 Does Not Apply to Division of Assets After Bifurcation Under Section 18C, and Petitioner Must Seek Implementation of Government Order.

The petitioner, a cooperative society registered for the Bhandara district, filed a writ petition under Articles 226 and 227 of the Constitution of In...

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Bombay High Court Upholds Circular Requiring Audit by Chartered Accountants or Certified Auditors in Cooperative Societies. Section 81(1)(a) of Maharashtra Cooperative Societies Act, 1960 empowers Registrar to prescribe auditor qualifications, and the circular is a valid general order.

The judgment concerns two writ petitions challenging a circular dated 11th November 1996 issued by the Government of Maharashtra under Section 81(1)(a...

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Bombay High Court Quashes Circular Levying Audit Fees on Co-operative Societies Opting for Private Audit. Rule 74 of Maharashtra Co-operative Societies Rules, 1961 cannot override Section 81(1)(b) of the Maharashtra Co-operative Societies Act, 1960.

The petitioner, The Friends Co-operative Housing Society Ltd., a society registered under the Maharashtra Co-operative Societies Act, 1960, filed a wr...

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Bombay High Court Quashes FIR Against Accused in Cheque Dishonour Case Due to Lack of Evidence of Dishonest Intention. Mere dishonour of cheque does not attract Section 420 IPC without proof of fraudulent or dishonest inducement at the time of borrowing.

The judgment pertains to two criminal applications filed under Section 482 of the Code of Criminal Procedure, 1973, seeking quashing of FIR No. 86/201...