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High Court of Gujarat Upholds Disciplinary Action Against Chartered Accountant for Professional Misconduct in Bank Audit. Failure to Report Irregular Loans and Deficient Documentation Constitutes Negligence Under Section 21(5) of the Chartered Accountants Act, 1949.

This is a case reference under Section 21(5) of the Chartered Accountants Act, 1949, arising from a complaint by Smt. Prabha S. Prasad, General Manage...

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"Supreme Court Clarifies Legislative Competence on Alcohol Regulation: Potable vs Industrial Alcohol" "A landmark judgment addressing the scope of State and Union powers on regulating alcohol under the Indian Constitution."

The Supreme Court of India revisited the legislative competence concerning the regulation of alcohol under the Constitution. The court examined whethe...

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Bombay High Court Quashes Stamp Duty Reassessment Order Due to Violation of Natural Justice and Non-Application of Mind. Collector's order set aside for failing to consider petitioner's objections and relying on unsubstantiated ready reckoner rates without providing opportunity of hearing.

The petitioner, Crystal Construction Company, challenged an order dated 16 September 2021 passed by the Collector of Stamps, Andheri, which adjudicate...

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Bombay High Court Allows Assessee's Appeal in Income Tax Case on Interest Deduction Under Section 36(1)(iii) — Section 14A Not Applicable When No Exempt Income Earned. Interest on Borrowed Capital Invested in Shares of Own Companies Held Allowable as Business Expenditure.

The appellant, Mahesh K. Mehta, a chartered accountant turned stock broker, acquired membership of the Bombay Stock Exchange in 1987 and the National ...

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Bombay High Court Allows Employer's Petition Against Gratuity Award in Favour of Dismissed Employee for Fraudulent School Certificate. Forfeiture of Gratuity Upheld Under Section 4(6)(b)(ii) of Payment of Gratuity Act, 1972 for Misconduct Involving Moral Turpitude.

The petitioner, Western Coalfields Ltd., challenged the orders of the Controlling Authority (Assistant Commissioner, Labour, Chandrapur) dated 21.10.2...

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Bombay High Court Dismisses Employer's Writ Petition Challenging Gratuity Order Due to Alternate Remedy. Employer failed to avail statutory appeal under Section 7(7) of Payment of Gratuity Act, 1972, hence writ petition not maintainable.

The petitioner, Chanda Khand Sahakari Shetkari Kharedi Vikri Sanstha, was the employer of respondent No.1, Dattatraya Ramchandra Gaund, who was appoin...

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Supreme Court Allows Revenue's Appeal, Holds Managing Agents' Group Controlling Over 75% Voting Power Excludes Company from 'Public Interest' Under Section 23A. Partners of Managing Agency Forming a Controlling Group Cannot Be Counted as Public for Purposes of Exemption Under Income-tax Act, 1922.

The dispute arose under the Indian Income-tax Act, 1922, concerning the applicability of Section 23A to a company where the Income-tax Officer sought ...