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Madras High Court Allows Revenue's Appeal on Retrospective Registration Under Section 12AA of Income Tax Act, 1961 — Tribunal's Retrospective Grant Set Aside. Registration Under Section 12AA Can Only Be Prospective from Date of Application, Not Retrospective.

The case involves an appeal by the Commissioner of Income Tax, Chennai against the order of the Income Tax Appellate Tribunal (ITAT) dated 09.08.2011....

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NCLAT Upholds Sale of Corporate Debtor as Going Concern in Liquidation — Confirms Immunity Under Section 32A IBC. Liquidator's Application for Confirmation of Sale and Immunity Allowed Despite Objections from Suspended Directors.

The appeal arose from a common order dated 27.09.2024 passed by the NCLT, Chennai, in IA(IBC)/415/2024, IA(IBC)/1701/2023, and IA(IBC)/1757/2023 in th...

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Bombay High Court Quashes FIR Against Bank and Employees in Loan Dispute — Dispute Held Purely Civil, No Prima Facie Case of Cheating or Criminal Breach of Trust. Allegations of Forgery and Use of Forged Documents Also Not Made Out, FIR Quashed Under Section 482 CrPC.

The judgment arises from two writ petitions filed by ICICI Bank Ltd., its employees (Zarin Daruwala, Girish Nayak, Arati Ramakrishnan, Vipul Parmar, K...

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Supreme Court Upholds Expulsion of Trading Member for Violating Gross Exposure Limits and Failing to Maintain Capital Adequacy. Securities Contracts (Regulation) Act, 1956 - Section 22F - Appeal against Securities Appellate Tribunal order upholding expulsion from National Stock Exchange membership.

The appellant, Rusoday Securities Ltd., was a trading member of the National Stock Exchange of India Ltd. (NSE) since November 1994 and gave an undert...

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Supreme Court Upholds Deletion of NRI Quota in PG Medical Admissions in Rajasthan. Change in Seat Matrix by State Counselling Board Held Valid as Colleges Failed to Provide NRI Seat Details and No Candidate Had Vested Right to Specific Quota.

The Supreme Court of India heard a batch of appeals arising from a judgment of the Rajasthan High Court which had set aside a Single Judge's order dir...

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Bombay High Court Allows Dental Graduate Challenge Against Registration Denial Under Maharashtra Public Universities Act, 2016. Graduates of Existing University Retain Registration Rights Despite Establishment of Specialized Health Sciences University for Electoral Representation.

The petitioner, a dental graduate (B.D.S. 2001) from the Government Dental College, Aurangabad, which was then affiliated to Dr. Babasaheb Ambedkar Ma...

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Bombay High Court Upholds Reservation for In-service Candidates in Postgraduate Medical Courses — State Government's Policy of Granting Weightage to In-service Candidates for 50% of Seats in Government Medical Colleges Held Valid and Not Violative of Article 14 or 16 of the Constitution.

The petitioners, who were candidates for admission to postgraduate medical courses in Maharashtra, challenged the State Government's policy of grantin...

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Bombay High Court Quashes Tender Condition in Octroi Collection Contract for Being Arbitrary and Unreasonable. Condition requiring prior experience of octroi collection in a municipal corporation with population of 10 lakhs or more held to be irrational and intended to favour predetermined bidders.

The Bombay High Court disposed of two writ petitions challenging the terms and conditions of a tender notice issued by the Nashik Municipal Corporatio...