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High Court of Karnataka Hears Appeals Against Conviction for Conspiracy, Cheating, Forgery, and Corruption in Fake Balance Certificate Scam. Trial Court Convicted Bank Manager and Proprietors for Creating Fraudulent Credit Entries and Balance Certificates to Facilitate Loan of Rs.36 Crores.

The present criminal appeals arose from a common judgment of conviction and sentence rendered by the Special Judge for CBI Cases, Bengaluru, in Spl.C....

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Bombay High Court Dismisses/Allows Petition Challenging MIDC's Allotment of Amenity Plots and Regulations 2009 – Judgment Truncated. Incomplete text prevents determination of outcome.

The petitioner, an industrial association of small scale industries, filed writ petitions challenging the allotment of open spaces or amenity plots wi...

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Supreme Court Clarifies Deduction of Broken Period Interest for Banks Treating Securities as Stock-in-TradeDeduction Allowed as Revenue Expenditure for Banks Holding Securities as Stock-in-Trade

The Supreme Court addressed the treatment of broken period interest for tax purposes. The issue centered on whether broken period interest could be de...

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Bombay High Court Allows Writ Petition Challenging Appellate Court's Order Granting Injunction in Property Dispute — Held That Trial Court's Refusal of Injunction Was Correct as Plaintiff Failed to Establish Prima Facie Case of Ownership Over Disputed D.P. Road Area.

The present writ petition was filed by the defendants (petitioners) challenging the judgment and order dated 28.09.2022 passed by the learned District...

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Bombay High Court Allows Petition Against Forest Department Transit Fee on Imported Timber. Imported timber from foreign country is not 'forest produce' under Maharashtra Forest Rules, 1970, and no transit fee can be levied for its transportation from port to customs CFS.

The petitioner, Omprakash Nagoja, a sole proprietor of O.P.M. International, imported timber from a foreign country. The timber arrived at Jawaharlal ...

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Bombay High Court Acquits Accused in Corruption Case Due to Inconsistent Evidence and Lack of Proof of Demand. Allegation of Bribe Demand Fails as Complainant's Testimony Lacks Corroboration and Material Witnesses Not Examined Under Section 7, 13(1)(d) and 13(2) of Prevention of Corruption Act, 1988.

The appellant, Sayaji Dashrath Kawade, was serving as Sub-Divisional Engineer in the Department of Telecommunications at Aurangabad. The complainant, ...

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Bombay High Court Allows Revenue's Appeal in Transfer Pricing Case Due to Non-Application of Mind by ITAT. Tribunal's order set aside for failing to consider the TPO's detailed analysis and rejecting comparables without proper reasoning under Section 92C of the Income Tax Act, 1961.

The appeal was filed by the Pr. Commissioner of Income Tax - 6 under Section 260A of the Income Tax Act, 1961 against the order of the Income Tax Appe...