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Supreme Court Allows Appeal in Income Tax Case: Subscriptions Received Under Collective Investment Schemes Held to be Capital Receipts Not Income. Peerless General Finance's Subscriptions Not Forfeited During Assessment Years, Hence Not Taxable as Income.

The appeal arose from a dispute between The Peerless General Finance and Investment Company Ltd. (appellant) and the Commissioner of Income Tax (respo...

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Supreme Court Allows Appeal in Property Dispute Case — Review Jurisdiction Improperly Exercised by High Court. The Court held that the High Court's review order did not satisfy the grounds under Order 47 Rule 1 CPC and was an abuse of process.

The present appeal arises from a long-standing property dispute concerning premises No. 43, Prithviraj Road, New Delhi. The property originally belong...

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Supreme Court Dismisses Appeal in Joint Hindu Family Partition Case — Properties Purchased in Eldest Son's Name Held to be Joint Family Assets. Burden of Proof Shifts to Member Claiming Self-Acquisition Once Joint Family Nucleus is Established.

The present appeal arises from a suit for partition filed by respondent No.1 (original plaintiff) against the appellant (defendant No.1), respondent N...

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Supreme Court Allows Appeal Against Interim Compensation Order Under Section 143A NI Act for Pre-Amendment Offences. Section 143A of the Negotiable Instruments Act, 1881, is Prospective and Cannot Apply to Complaints Filed Before Its Insertion on 1 September 2018.

The case arose from a complaint under Section 138 of the Negotiable Instruments Act, 1881, filed in 2016 against the appellant G.J. Raja by the respon...

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Supreme Court Dismisses Appeal by Suspended Director in IL&FS Accounts Reopening Case — Recasting Permitted Under Section 130 Companies Act. Court holds that SFIO and ICAI reports provide sufficient basis for reopening accounts and that suspended director lacks locus standi.

The case pertains to an appeal filed by Hari Sankaran, a suspended director of Infrastructure Leasing & Financial Services Limited (IL&FS), against th...

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Supreme Court Allows CBI to Bring Authorization Order on Record in Corruption Case. Procedural Lapse Does Not Bar Subsequent Application Under Section 173(2)(5)(a) CrPC; Substantive Justice Prevails Over Technicalities.

The Supreme Court allowed an appeal by the State represented by the Inspector of Police, CBI, against the dismissal of its application to bring on rec...

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Supreme Court Remands Income Tax Appeal to High Court for Non-Compliance with Section 260A(3) of Income Tax Act, 1961. High Court Failed to Frame Substantial Questions of Law as Mandated, Rendering Its Judgment Unsustainable.

The appellant, Ryatar Sahakari Sakkarre Karkhane Niyamit, an assessee under the Income Tax Act, 1961, filed appeals before the Supreme Court against t...