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High Court of Karnataka Acquits Accused in Negotiable Instruments Act Case — Dishonour of Cheque Due to Insufficient Funds. Conviction Set Aside as Complainant Failed to Prove Legally Enforceable Debt or Liability Under Section 138 of Negotiable Instruments Act, 1881.

The revision petition was filed by Smt. Gouri, the accused, challenging her conviction under Section 138 of the Negotiable Instruments Act, 1881. The ...

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Supreme Court Allows Assessees' Appeals in Interest Tax Dispute on Hire-Purchase Transactions. The interest component in hire-purchase instalments is not taxable under Section 2(7) of the Interest-Tax Act, 1974 as hire-purchase transactions are not loans or advances.

The Supreme Court allowed the appeals filed by M/s Muthoot Leasing and Finance Limited and other assessees, setting aside the judgment of the Kerala H...

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Supreme Court Allows Assessees in Interest Tax Act Case on Hire-Purchase Instalments. Hire-purchase agreements are distinct from loans, and interest component in instalments is not taxable under Section 2(7) of the Interest-Tax Act, 1974, as it does not constitute interest on loans and advances.

The dispute involved a batch of civil appeals concerning the tax liability of non-banking finance and leasing companies under the Interest-Tax Act, 19...

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Supreme Court Upholds High Court's Direction to Accept Late Pension Option in Exceptional Circumstances. Bank's Appeal Dismissed as Court Finds Employee's Lack of Knowledge Due to Being Abroad Justifies Condonation of Delay.

The respondent, Janak Raj Sharma, was a Senior Manager at Oriental Bank of Commerce who took voluntary retirement on 15.01.2001. On 23.08.2010, the Ba...

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Bombay High Court Upholds Landlord-Bank in Rent Control Eviction Matter Due to Unlawful Subletting and Bonafide Requirement. Partnership Deed Treated as Camouflage for Subletting Under Bombay Rents, Hotel and Lodging House Rates Control Act, 1947, Affirming Concurrent Factual Findings.

These civil revision applications arose from two eviction suits filed by Sangli Urban Cooperative Bank Ltd, a cooperative bank registered under the Ma...

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Bombay High Court Grants Probate of Will Executed on Same Day as Testatrix's Death, Upholding Its Validity Despite Challenge by Legal Heir. The court held that the execution of the Will was duly proved by attesting witnesses and the suspicious circumstances were dispelled.

The plaintiff, Pravin Laxmidas Tanna, filed a suit seeking probate of the last Will and Testament dated 15.01.2004 of Savita Hiralal Bhindora, who exp...

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Bombay High Court Quashes Criminal Proceedings Against Co-opted Director in Bank Fraud Case Due to Lack of Evidence. Petitioner, a medical practitioner co-opted as director of a cooperative bank, was not named in charge-sheets and no material showed her involvement in alleged misappropriation.

The petitioner, a medical practitioner, was co-opted as a director of Samta Sahakari Bank Ltd., a cooperative society running banking business, from 1...