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Bombay High Court Allows Appeal in Negotiable Instruments Act Case — Acquittal Set Aside Due to Improper Appreciation of Evidence. Dishonour of Cheque for Investment in Business Partnership Attracts Section 138 NI Act Liability Despite Dispute Over Debt Legality.

The appellant, Sheikh Shabbir, filed a criminal appeal against the judgment of the Judicial Magistrate, First Class, Vasco-da-Gama, acquitting the res...

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Bombay High Court Dismisses Appeal Challenging Rejection of Discharge in MPID Act Case – Alleged Fraudulent Hosiery Scheme – No Discharge as Prima Facie Case Exists

The appellant, Smt. Neelam Rajendra Nanaware, filed a criminal appeal under Section 11 of the Maharashtra Protection of Interest of Depositors (In Fin...

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Bombay High Court Dismisses Revenue's Appeal in Income Tax Penalty Case — Penalty Deletion Upheld for Bonafide Claims. Claims for deduction under Section 35D and diminution in value of shares were bonafide and not concealment, following CIT vs. Reliance Petroproducts Pvt. Ltd.

The case involves an appeal by the Commissioner of Income Tax under Section 260A of the Income Tax Act, 1961 against the order of the Income Tax Appel...

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High Court of Karnataka Quashes Criminal Proceedings Against ICICI Bank in Private Complaint for Offences Under IPC Sections 177, 182, 191, 199, 500 — Complaint Filed by Constituent Alleging False Information and Defamation by Bank Manager

The petitioners, M/S ICICI Bank and its manager, filed a criminal petition under Section 482 of the Code of Criminal Procedure, 1973, seeking to quash...

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Supreme Court Allows Revenue's Appeal in Income Tax Case — Upholds Addition Under Section 68 for Unexplained Share Capital. Assessee Failed to Prove Identity, Creditworthiness, and Genuineness of Investor Companies Despite Receiving Share Premium at Rs. 190 per Share.

The present appeal arises from a judgment of the Delhi High Court in an income tax appeal concerning the assessment year 2009-10. The respondent-asses...

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Bombay High Court Grants Conditional Leave to Defend in Summary Suit for Recovery of Loan — Triable Issues Raised Regarding Limitation and Acknowledgment of Debt. Defendant's Application for Leave to Defend Allowed Subject to Deposit of 50% of Suit Amount Under Order XXXVII Rule 3(5) of CPC, 1908.

The plaintiffs, Carl Pinto De Andrade and others, filed a Commercial Summary Suit against Ventura Securities Limited for recovery of Rs. 1,00,00,000/-...