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Supreme Court Allows Bank's Appeal in Evacuee Property Dispute, Holding Joint Family Firm Not Exempt from Vesting. Cash Deposit of Hindu Joint Family Firm Held to Be Evacuee Property, Vested in Pakistan Custodian, Extinguishing Bank's Liability under Private International Law.

The dispute arose from a cash credit account maintained by M/s. Ghamandi Ram Gurbax Rai, a joint Hindu family firm, with the Imperial Bank of India in...

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Supreme Court Dismisses Assessee's Appeal in Income Tax Deduction Case Under Section 43B Explanation 3C. Interest Converted into Debentures Not Deemed Actually Paid as Per Retrospective Amendment, Disallowing Deduction Under Income Tax Act, 1961.

The dispute arose from an appeal by M.M. Aqua Technologies Ltd. against the Commissioner of Income Tax, Delhi-III, concerning the interpretation of Se...

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Bombay High Court Upholds Conviction of Accused in Cheque Bounce Case Under Section 138 NI Act — Presumption of Legally Enforceable Debt Not Rebutted. Accused Failed to Prove That Cheque Was Not Issued for Discharge of Any Debt or Liability, Leading to Confirmation of Concurrent Sentence of Six Months.

The case arises from a criminal revision application filed by the accused, Krishna Gudi, against the judgment and order of the Additional Sessions Jud...

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Bombay High Court Allows Writ Petition Quashing MPID Act Attachment Against Corporate Debtor's Property. Section 32A IBC Overrides MPID Act as Property Acquired Prior to Offence and Corporate Debtor Not Accused.

The petitioner, Dwarka Iron Industries Pvt. Ltd., as the Successful Resolution Applicant of the corporate debtor M/s. Abhirama Steels Limited, filed a...