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Supreme Court Allows Banks' Appeals in RBI Fraud Classification Case Regarding Natural Justice Requirements. Court Holds No Absolute Right to Personal Hearing or Full Forensic Audit Report Disclosure Under RBI Master Directions Issued Under Section 35A Banking Regulation Act, 1949.

The dispute arose from the classification of loan accounts as 'fraud' by banks under the Reserve Bank of India's Master Directions. The appellant bank...

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Bombay High Court Quashes Assessment Order in MVAT Act Case Due to Limitation Bar and Violation of Natural Justice. Assessment Order Passed After Four-Year Limitation Period and Without Granting Personal Hearing Despite Request.

The petitioner, a dealer registered under the Maharashtra Value Added Tax Act, 2002 (MVAT Act), challenged an assessment order and notice of demand fo...

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Supreme Court Allows Appeal in Motor Accident Compensation Case — Future Prospects Awardable in Permanent Disablement Cases. Loss of earning capacity must consider functional disability and actual income, not merely physical disability percentage.

The appellant, Pappu Deo Yadav, was a 20-year-old data entry operator earning ₹12,000 per month when he suffered a serious motor accident on 18.05.2...

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Bombay High Court Partially Allows Challenge to Arbitral Award in Maritime Board Dispute Over Cargo Handling Charges. Court sets aside majority award directing payment at Rs.3 per metric tonne, remits matter for fresh consideration on applicability of 1995 or 1996 policy.

The Maharashtra Maritime Board (Claimant) filed an Arbitration Petition under Section 34 of the Arbitration and Conciliation Act, 1996 challenging a m...

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Bombay High Court Dismisses Petition of Kerosene Dealers' Association Challenging Inclusion of VAT in Ceiling Price. State's Power to Fix Maximum Price Including Taxes Upheld Under Essential Commodities Act, 1955.

The petitioners, Mumbai Kerosene Dealers' Association and its members, who are wholesale kerosene dealers holding licences under the Maharashtra Keros...

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High Court of Bombay at Goa Dismisses Revenue's Appeal in Income Tax Penalty Case. ITAT's Finding of Reasonable Cause for Non-Payment of Tax Under Section 221(1) of Income Tax Act, 1961, Based on Material Evidence, Not Interfered With.

The Commissioner of Income Tax, Goa, filed two appeals under Section 260A of the Income Tax Act, 1961, against a common order of the Income Tax Appell...