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High Court of Karnataka Dismisses Appeal Challenging DICGC Act Provisions in Cooperative Bank Deposit Insurance Dispute. Sections 18A(5) and 21(3)(4) of the Deposit Insurance and Credit Guarantee Corporation Act, 1961, held constitutional and not arbitrary.

The appellant, Sri G.K. Gururaja Rao, Secretary of Sri Guru Raghavendra Sahakara Bank Niyamitha, filed a writ petition under Article 226 of the Consti...

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High Court of Karnataka Allows Advocate's Re-Enrollment After Surrender of Sanad During COVID-19. Karnataka Advocates' Welfare Fund Act, 1983 Does Not Bar Re-Entry; Right to Practice Under Article 19(1)(g) Upheld.

The petitioner, Shri Channabasappa Lingappa Mokhashi, enrolled as an advocate with the then Mysore Bar Council on 17-07-1973 and practiced continuousl...

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Supreme Court Upholds Validity of Section 17(2)(viii) of Income Tax Act and Rule 3(7)(i) of Income Tax Rules in Bank Employee Loan Perquisite Case. Delegation of Power to Prescribe Fringe Benefits Held Not Excessive and Use of SBI Prime Lending Rate as Benchmark Upheld as Non-Arbitrary.

The Supreme Court, in a common judgment, dismissed appeals filed by staff unions and officers' associations of various banks challenging the constitut...

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Bombay High Court Allows Petition of Co-operative Housing Society Against Deputy Registrar's Order Directing Refund of Non-Occupancy Charges. Lease Deed Restrictions and By-laws Upheld; Registrar's Powers Under Section 79(2)(b) Cannot Override Society's By-laws.

The Petitioner, Mistry Park CHS Ltd., a co-operative housing society, challenged orders dated 18 October 2021 and 22 March 2022 passed by the Deputy R...

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Bombay High Court Allows Writ Petition by Mutual Fund Against Sales Tax Reassessment Orders — Holds Mutual Fund Not a Dealer Under MVAT Act, 2002. Reassessment Proceedings Initiated Beyond Limitation Period and Without Proper Sanction Are Invalid.

The petitioner, Axis Mutual Fund, filed a writ petition under Article 226 of the Constitution of India challenging several orders passed by the sales ...

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Supreme Court Dismisses Assessee's Appeal in Income Tax Deduction Dispute Over Commission Paid to General Manager. Expenditure disallowed as excess over reasonable remuneration was not laid out wholly for business purposes under Section 10(2)(xv) of the Income-tax Act, 1922.

This appeal arose from an income-tax assessment where the assessee, a woollen manufacturer, had appointed one V as General Manager. The terms of appoi...