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Bombay High Court Dismisses Revenue's Appeal in Income Tax Revision Case — Tribunal's Order Not Erroneous or Prejudicial to Revenue. Transfer of Shares for Debt Settlement and Lease Premium Income Treated as Capital Receipts, Not Revenue.

The appeal by the revenue under Section 260A of the Income Tax Act, 1961 challenged the order of the Income Tax Appellate Tribunal (Tribunal) dated 21...

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Bombay High Court Allows State's Petition Challenging NCLT Order De-freezing MPID Attached Accounts. MPID Act Overrides IBC for Attachment and Confiscation of Properties of Financial Establishments.

The State of Maharashtra, through the Deputy Collector and Competent Authority (NSEL), filed a writ petition under Articles 226 and 227 of the Constit...

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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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Bombay High Court Dismisses Suit for Specific Performance Due to Non-Compliance with Order VI Rule 17 CPC and Lack of Pleading Readiness and Willingness. Plaintiff failed to amend plaint to incorporate essential facts regarding readiness and willingness to perform contract, leading to dismissal of suit.

The plaintiff, Neeta Sawant, filed a suit for specific performance of an Agreement for Sale dated 30th September 2016, by which the defendants agreed ...

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High Court of Karnataka Allows Release of Passport in Criminal Case — Petitioner Granted Custody of Passport Subject to Conditions to Ensure Court Attendance. Passport Release Ordered Under Section 482 CrPC with Safeguards Against Absconding.

The petitioner, Sri Praveen Surendiran, filed a criminal petition under Section 482 of the Code of Criminal Procedure, 1973 (CrPC) before the High Cou...

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High Court of Karnataka Considers Complainant's Petition to Set Aside Evidence and Transfer Trial in Cheating Case. Earlier Evidence Recorded with Translator Who Was a Witness Nullified by Prior High Court Order, Fresh Evidence Recorded in Compliance.

The petitioner-complainant filed a complaint on 18.3.2010 alleging illicit relationship and intimidation against the accused, leading to filing of cha...

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Bombay High Court Dismisses Petitioner's Challenge to Tender Award for Digital Radiography Systems. Court upholds Municipal Corporation's decision to award contract to lowest bidder after due process, finding no arbitrariness or mala fides.

The Petitioner, Prognosys Medical Systems Ltd., challenged the award of a contract by the Mumbai Municipal Corporation for the supply and installation...