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Supreme Court Dismisses Assessee's Appeal in Income Tax Cash Credit Case — Upholds Addition Under Section 68 Despite Rejection of Books for Gross Profit. Books of Account Can Be Partially Relied Upon for Different Additions Even After Rejection Under Section 145(3) of Income Tax Act, 1961.

The appeal arose from a challenge to an addition of Rs.2,26,000 made under Section 68 of the Income Tax Act, 1961, as unexplained cash credits. The ap...

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Bombay High Court Dismisses Petitions Challenging Arbitral Awards in Stock Broking Disputes — Upholds Awards for Payment of Outstanding Dues with Interest. Claims of Bogus Trading and Unauthorized Transactions Remain Unproved Due to Lack of Evidence and Failure to Pursue Counterclaims.

The judgment concerns two arbitration petitions filed by Ms. Deepika Vijay Nihalani and Vijay Roopkumar Nihalani against INA Stock Broking Co. Pvt. Lt...

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Bombay High Court Allows Appeal in Cheque Dishonour Case, Reverses Acquittal. Complainant Established Ingredients Under Section 138 of Negotiable Instruments Act, 1881; Accused Failed to Discharge Reverse Burden Under Section 139.

The appellant, Suresh Nakra, filed a complaint under Section 138 of the Negotiable Instruments Act, 1881 (NI Act) against the respondent, Murugesan Ad...

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NCLAT Dismisses Appeal of Former Director in Fraudulent Trading Case Under Section 66 IBC. The Tribunal upheld the finding that the appellant siphoned funds and engaged in wrongful trading during liquidation of Easytech Global Private Limited.

The present appeal under Section 61 of the Insolvency and Bankruptcy Code, 2016 (IBC) was filed by Mr. Gopal Kalra, the erstwhile director of M/s Easy...