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Supreme Court Dismisses Revenue Appeal in Income Tax Case; Arrear Dividends on Shares Held Not Taxable as Income. Purchase of Shares Cum-Dividend Implied Price Included Dividend Amount, Which Was Not Income of the Purchaser but Capital Receipt Under Income-tax Act, 1922.

The case involved a tax dispute regarding the treatment of arrear dividends received by the respondent, India Discount Co. Ltd., a dealer in shares an...

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Bombay High Court Hears Challenge to Drug Price Control Demand Against Pharmaceutical Company. Cream Vs. Ointment Distinction and Small Scale Industry Exemption Under DPCO 1995 Considered.

The writ petition arose from a dispute concerning the drug price control regime under the Drugs (Price Control) Order, 1995 (DPCO 1995). The first pet...

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Bombay High Court Acquits Multiple Accused in Dacoity Case Due to Unreliable Identification and Lack of Evidence. Convictions under Section 395 IPC set aside as test identification parade was not conducted and recovery of stolen property was not linked to the accused.

The case involves multiple appeals against a common judgment of the Additional Sessions Judge, Wardha, convicting several accused for offences under S...

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Supreme Court Allows Bank's Appeal Against Confiscation Orders Under Central Excise Act and SARFAESI Act. Commissioner's Use of Omitted Rule 173Q(2) Invalid and SARFAESI Act Grants Priority to Secured Creditors Over Excise Dues.

The appeal arose from a judgment of the Allahabad High Court dismissing a writ petition filed by Punjab National Bank. The bank had extended credit fa...

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Bombay High Court Dismisses Company's Challenge to SAFEMA Forfeiture Order for Property Linked to Narcotics Trafficking. Burden of Proof Under Section 7 SAFEMA Not Discharged by Claimant.

The petitioner, Imperial Exim (India) Pvt. Ltd., challenged an order dated 31 March 2011 passed by the Appellate Tribunal for Forfeited Property, New ...

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CUSTOMS APPEAL NO. 100 OF 2012

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