Search Results for "Finance Act 1956"

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Bombay High Court Holds Respondents in Contempt for Breach of Injunction Order. Resolutions Increasing Authorised Capital and Alloting Shares While Restrained from Exercising Rights on Shares Amount to Wilful Disobedience.

The appeal arose from Suit No.3121 of 2004, where the appellants (original plaintiffs, Gopal L. Raheja & Anr.) claimed that the respondents (original ...

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High Court of Karnataka Upholds Conviction in Cheque Dishonour Case — Presumption of Legally Enforceable Debt Under Section 139 NI Act Not Rebutted. Cheque Issued as Security for Advance of Rs.80 Lakh Dishonoured — Accused Failed to Prove Absence of Debt.

The case arises from a complaint filed by HMT (International) Limited, a public limited company, against M/s Nucor Wires Limited and its directors (th...

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Bombay High Court Dismisses Assessee's Claim for Depreciation on Share Issue Expenses Capitalised to Plant and Machinery. Expenditure on Raising Share Capital Not Part of Actual Cost Under Section 32 of Income Tax Act, 1961, and Falls Under Section 35D as Preliminary Expenses.

The case involves an Income Tax Reference under Section 256(1) of the Income Tax Act, 1961, by the Income Tax Appellate Tribunal for the assessment ye...

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Supreme Court Allows Insolvency Proceedings Under IBC Over Defunct Scheme of Arrangement -- IBC Prevails Over Companies Act in Recovery of Defaulted Loans

The Supreme Court allowed an appeal against the Company Law Appellate Tribunal's order that kept in abeyance an application under Section 7 of the Ins...

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High Court of Judicature at Bombay Dismisses Challenge to Issuance of Process Under Section 138 of Negotiable Instruments Act. Court Holds That Once Plea is Recorded and Evidence Commences, High Court Should Not Ordinarily Interfere Under Inherent Jurisdiction Under Section 482 CrPC.

The present criminal writ petition was filed under Article 227 of the Constitution of India and Section 482 of the Code of Criminal Procedure, 1973, b...

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Bombay High Court Dismisses Petition to Quash Process in NI Act Case Against Sick Company's Managing Director. Court holds that declaration of a company as sick under SICA does not absolve its directors from criminal liability under Section 138 of the Negotiable Instruments Act, 1881.

The petitioner, Omesh Keshav Karnik, Managing Director of Phoenix Fine Chem Pvt. Ltd., a sick company, filed a Criminal Writ Petition before the Bomba...