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Supreme Court Upholds Validity of Forward Contract Prohibition; Contracts Void Under Section 3 of Travancore-Cochin Public Safety Measures Act 5 of 1950. Pre-Constitution Bill Did Not Require President’s Sanction Under Article 304(b) as No Amendment Covered by Article Was Moved.

The dispute arose from forward contracts for the purchase of coconut oil entered into in 1952 in the former Cochin State. The respondent, a commission...

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WRIT PETITION NO. 17 OF 2004

The judgment pertains to four writ petitions filed by international airlines—Malaysian Airlines, Saudi Arabian Airlines, North West Airlines, and Ke...

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High Court of Karnataka Quashes Criminal Proceedings Against Contractor in Section 482 Cr.P.C. Petition. FIR Under Sections 379, 406, 420 IPC Quashed as Dispute Was Civil in Nature and Complaint Filed as Counterblast for Recovery of Money.

The dispute arose from a construction contract between Modern Asset (petitioner) and KNK Constructions Private Limited (2nd respondent). The 2nd respo...

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Supreme Court Allows State's Appeal Against Quashing of Second FIR in Corruption Case — Second FIR Permissible When It Discloses Distinct and Separate Incidents Not Part of Same Transaction.

The Supreme Court allowed the appeal filed by the State of Rajasthan against the judgment of the Rajasthan High Court quashing the second FIR register...

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Supreme Court Allows Assessee's Appeal in Income Tax Dispute Over Non-Compete Fee Taxability. Amount Received Under Deed of Covenant Held as Capital Receipt Not Taxable Under Section 28(ii)(a) of Income Tax Act, 1961, Due to Separate Genuine Transaction and Procedural Error in High Court's Judgment.

The appeal concerned the assessment year 1995-96 involving Shri Shiv Raj Gupta, Chairman and Managing Director of Central Distillery and Breweries Ltd...