Search Results for "Finance Act 1956"

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Supreme Court Allows Appeal in Bonus Calculation Dispute Involving Subsidiary Company. Service Fee Payment Under Technical Aid Agreement Held to Be Legitimate Expenditure, and Deduction of Bonus as Prior Charge Before Depreciation and Tax Ruled Improper Under Industrial Disputes Act, 1947.

The dispute arose out of a claim for bonus by the workmen of Crompton Parkinson (Works) Private Ltd., Bombay, which was initially a wholly-owned subsi...

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High Court of Judicature at Bombay Adjudicates Company Petition for Winding Up Over Unpaid Derivative Transaction Debts. The Petitioner Bank Claimed Rs.8.74 Crores from the Respondent Company Following Defaults on Forex Options Margin Calls Under ISDA Master Agreement.

The litigation stems from a company petition filed by HDFC Bank Ltd. under the provisions of the Companies Act, 1956 seeking winding up of Rohan Dyes ...

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Supreme Court Adjudicates Seniority Dispute Arising from Cadre Bifurcation and Re-amalgamation in Customs and Excise Department. Dispute Centers on Impact of Separate Data Processing Cadre on Ministerial Employee Seniority Under the 1979 Recruitment Rules.

The case involved a seniority dispute among employees of the Customs and Central Excise Department. The original ministerial cadre, governed by the Ce...

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Bombay High Court Dismisses Revision Against Conviction in Cheque Dishonour Case — Presumption Under Section 139 NI Act Not Rebutted. Accused Failed to Prove Cheque Was Issued as Security, Not for Repayment of Loan.

The case involves a criminal revision application filed by the accused, Vyomesh Jitendra Trivedi, challenging his conviction under Section 138 of the ...

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Bombay High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act for Lack of Reasonable Belief and Change of Opinion. Reassessment Beyond Four Years Invalid Without Proof of Failure to Disclose Material Facts.

The petitioner, Vedanta Limited (formerly Sterlite Opportunities and Ventures Limited), challenged a notice dated 28 March 2008 issued under Section 1...

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High Court Dismisses Writ Petitions Challenging DRAT Order Allowing Bank to Sell Secured Assets Despite Company Being in Liquidation. SARFAESI Act Proceedings Held Not Barred by Companies Act Winding Up Provisions; Secured Creditor's Right to Enforce Security Interest Prevails.

The petitioners, Capt. G.R. Gopinath and M/s Deccan Emerging Business Ventures Limited, challenged the order dated 06.01.2017 passed by the Debt Recov...