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High Court of Karnataka at Bengaluru considers batch of income tax appeals under Section 260-A of the Income Tax Act, 1961 challenging ITAT orders for assessment years 2001-02 to 2004-05. Assessee and Revenue both seek to set aside the ITAT decisions and frame substantial questions of law.

The High Court of Karnataka at Bengaluru dealt with a batch of income tax appeals filed under Section 260-A of the Income Tax Act, 1961. The appeals a...

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High Court of Karnataka Allows RBI's Appeal Against Direction to Consider Loan Settlement — No Mandamus to Compel Discretionary Power. RBI's Circulars on One-Time Settlement Are Guidelines, Not Mandatory, and Do Not Create a Vested Right in Borrower Under Reserve Bank of India Act, 1934.

The Reserve Bank of India (RBI) filed a writ appeal challenging an order of a Single Judge of the High Court of Karnataka, Kalaburagi Bench, dated 22....

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Bombay High Court Upholds Industrial Court Order Directing Regularization of Daily Wager in Agricultural Produce Market Committee — Unfair Labour Practice Established Under MRTU & PULP Act for Non-Regularization Despite Completion of 240 Days Service and Regularization of Juniors.

The petitioner, Agricultural Produce Market Committee, Hinganghat, challenged the order of the Industrial Court, Nagpur, which allowed the complaint o...

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Supreme Court Allows Appeal in Customs Duty Exemption Case — Crude Degummed Soyabean Oil Not an Agricultural Product Under Notification No. 53/2003-Cus. Nexus Between Imported and Exported Products Established Under DFCE Scheme.

The appellant, Noble Resources and Trading India Private Limited (formerly Andagro Services Pvt. Ltd.), a government-recognized two-star export house,...

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High Court of Bombay Considers Revision Against SEBI Special Court's Rejection of Discharge in SEBI Prosecution for Non-Payment of Penalty. Vicarious Liability of Directors Under Section 27 SEBI Act Questioned Due to Absence of Specific Averments in Complaint.

The matter arose from four Criminal Revision Applications filed before the High Court of Bombay challenging a common order of the SEBI Special Court t...

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Supreme Court Dismisses Consumer Complaint Against Postal Authorities in Kisan Vikas Patra Fraud Case. Postal authorities not vicariously liable for agent's fraud as payment was made to holder under Negotiable Instruments Act, 1881, and appellants' negligence in signing instruments contributed to loss.

The dispute arose from a consumer complaint filed by Pradeep Kumar and Raj Rani against postal authorities, including the Post Master General and othe...

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Bombay High Court Allows Petition of Listed Company Seeking Copies of Seized Documents from GST Intelligence. Right to Copies Implicit Under CGST Act to Enable Compliance with SEBI Regulations and Audit Requirements.

The Petitioner, High Ground Enterprises Ltd., a company listed on the Bombay Stock Exchange and National Stock Exchange with over 10,000 shareholders,...

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Supreme Court Dismisses Bank's Appeal in Consumer Dispute Over Cheque Clearing Deficiency. Bank held liable for deficiency in service under Consumer Protection Act, 1986 due to negligence in presenting cheques within validity period, with compensation awarded for loss caused by expired cheques.

The Supreme Court of India heard two civil appeals filed by Canara Bank against a judgment of the National Consumer Disputes Redressal Commission. The...