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Bombay High Court Allows Appeal Against Admission of Winding Up Petition Due to Bona Fide Counterclaim. Company's claim for damages exceeding admitted debt constitutes a substantial defence under Section 434 of the Companies Act, 1956.

The appellant, Prime Broking Company (India) Ltd., appealed against an order dated 28 June 2016 passed by the Company Judge admitting a winding up pet...

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Supreme Court Dismisses Assessee's Appeal Against Inclusion of Interest Credits as Taxable Income Under Section 4(1)(a) of Income-tax Act, 1922. Mercantile System Credit Entries for Interest from Own Shop in Native State Treated as Income Received in British India.

The assessee, ordinarily resident in British India, carried on business at Khurja and Aligarh in India and at Chistian in the Indian State of Bahawalp...

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Madras High Court Dismisses University's Challenge to GST Notices on Affiliation Fees. The Court Holds Affiliation Services are Not Exempt under Notification No.12/2017-CT (Rate) as They Do Not Relate to Admission or Conduct of Examination.

The dispute arose from notices issued by the Revenue under Section 74(5) of the Tamil Nadu Goods and Services Tax Act, 2017, proposing to levy GST on ...

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High Court of Karnataka Considers Cross-Appeals in Suit for Specific Performance and Injunction — Interim Relief Sought Under CPC and Commercial Courts Act. The suit concerned enforcement of a Negative Lien Letter and personal guarantees, with the plaintiff bank seeking to restrain alienation of assets.

The case involves cross-appeals arising from a commercial suit filed by Bank of Baroda against Dr. Bavaguthu Raghuram Shetty and Dr. Chandrakumari Rag...

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High Court of Karnataka Dismisses Intra-Court Appeal Against Look-Out Circulars Issued by Banks Due to Default of Rs.2800 Crores. Court Holds that Petitioner’s Concession to Banks’ Power and Pending Suits Justify Travel Restriction Under Office Memoranda.

The intra-court appeal arose from the dismissal of a writ petition that challenged two Look Out Circulars issued by Bank of Baroda and Punjab National...

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High Court of Judicature at Bombay Nagpur Bench Hears Letters Patent Appeals Against Writ Petition Order in Co-operative Sugar Factory Dispute — Appeals involve allegations of mismanagement, enquiry under Section 83 of Maharashtra Co-operative Societies Act, 1960, and liquidation proceedings.

The High Court of Judicature at Bombay, Nagpur Bench, heard two Letters Patent Appeals (No. 197 of 2009 and No. 239 of 2009) arising from Writ Petitio...