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Bombay High Court Quashes FIR Against HDFC Bank Executive in Cheque Dishonour Case — Donation Not a Legally Enforceable Debt Under Section 138 NI Act. Court held that a cheque issued as a donation without existing liability does not attract penal provisions under Negotiable Instruments Act, 1881.

The petitioner, Sashidhar Jagdishan, an individual aged 79 years and an executive at HDFC Bank, filed a criminal writ petition under Article 226 of th...

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Supreme Court Allows Canara Bank's Appeal in Disciplinary Reversion Case — Division Bench Exceeded Scope of Judicial Review. Regulation 10 of Canara Bank Officer Employees' (Discipline and Appeal) Regulations, 1976 is Directory, Not Mandatory.

The case involves a disciplinary action taken by Appellants against its Senior Manager, Respondents, who was reduced from SMG Scale-IV to MMG Scale-II...

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Bombay High Court Quashes Reassessment Order in Capital Gains Tax Case — Transfer of Shares of Foreign Company Not Taxable in India. Shares of a Bermuda company transferred outside India do not constitute transfer of a capital asset situated in India under Section 2(14) of the Income Tax Act, 1961.

The petitioner, Techpac Holdings Ltd., a company incorporated in Bermuda, challenged an assessment order dated 25th March 2013 passed by the Deputy Co...