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High Court of Bombay Examines Jurisdictional Challenge to Transfer Pricing Adjustment on Equity Share Issuance. Whether Alleged Shortfall in Premium Constitutes Income from International Transaction Under Chapter X of Income Tax Act, 1961.

Vodafone India Services Pvt. Ltd. (the Petitioner), a wholly owned subsidiary of a non-resident holding company, required funds for its telecommunicat...

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Gujarat High Court Allows Appeal in Cheque Dishonour Case — Reverses Acquittal Under Section 138 NI Act. Presumption of Legally Enforceable Debt Under Section 139 NI Act Stands Unless Rebutted by Accused.

The appellant, Harshadkumar Vaikuthram Halani, filed a criminal appeal under Section 378 of the Code of Criminal Procedure, 1973, against the judgment...

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Bombay High Court Dismisses Landlord's Revision in Rent Suit — No Willful Default or Bona Fide Need Established. Landlord failed to prove willful default in payment of rent and bona fide need for personal use under the Bombay Rents, Hotel and Lodging House Rates Control Act, 1947.

The applicant, Surgonda Kalgonda Patil, was the original plaintiff who filed a suit for possession of suit premises and recovery of arrears of rent ag...

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High Court of Karnataka Dismisses Appeal Against Acquittal in Cheque Bounce Case — Complainant Failed to Prove Legally Enforceable Debt. Presumption under Section 139 NI Act Rebutted by Accused Showing Loan Repayment and Lack of Documentary Evidence.

The appellant, K.N. Raju, filed a criminal appeal under Section 378(4) of the Code of Criminal Procedure, 1973, challenging the judgment of acquittal ...

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Bombay High Court Allows Appeal in Income Tax Case: Investment in Shares of Private Company for Acquiring Control Held as Capital Asset, Not Stock-in-Trade. Shares held for 31 months with transfer restrictions cannot be treated as trading asset under Income Tax Act, 1961.

The appellant, Accra Investments Private Ltd., filed an appeal under Section 260A of the Income Tax Act, 1961 against the order dated 25 April 2012 of...

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Supreme Court Dismisses Appeal by Erstwhile Directors in First Insolvency Case, Holding IBC Overrides State Moratorium. Corporate Debtor's Belated Defence of Non-Disbursal Under Master Restructuring Agreement Rejected as After-Thought.

The case arose from the first application under the newly enacted Insolvency and Bankruptcy Code, 2016. The appellant, a multi-product company, faced ...

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High Court of Karnataka Allows Appeal in Negotiable Instruments Act Case — Reverses Acquittal for Dishonour of Cheque. Presumption under Section 139 of NI Act stands unless rebutted by accused; accused failed to rebut presumption of legally enforceable debt.

The appeal was filed by the complainant (appellant) against the judgment of acquittal passed by the Judicial Magistrate First Class, Banhatti, in C.C....

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High Court of Karnataka Allows Appeal in Cheque Dishonour Case — Presumption Under Section 139 N.I. Act Not Rebutted by Accused. Borrowing of Rs.20,000/- and Issuance of Cheque Established; Acquittal Set Aside.

The appeal arises out of the judgment of acquittal passed by the learned Senior Civil Judge and JMFC, Sagar dated 26.08.2011 in C.C.No.124/2010 wherei...

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High Court of Karnataka Acquits Accused in Cheque Dishonour Case Due to Failure to Prove Legally Enforceable Debt. Complaint under Section 138 of Negotiable Instruments Act, 1881 dismissed as complainant failed to establish that the cheque was issued for a legally enforceable debt or liability.

The case involves a criminal revision petition filed by the accused, S Ramesh Kumar, challenging his conviction under Section 138 of the Negotiable In...