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Madras High Court Allows Appeals of Shareholders in Capital Receipt Case — One Million Euros Received from Vedior NV Held Exempt as Capital Receipt. Compensation for Loss of Right of First Refusal and Non-Compete Agreement Treated as Capital Receipt Not Chargeable to Tax Under Income Tax Act, 1961.

The case involves two appeals by shareholders (K. Pandiarajan and R. Hemalatha) against the order of the Income Tax Appellate Tribunal (ITAT) which up...

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Bombay High Court Quashes Magistrate's Order for Police Investigation Under Section 156(3) CrPC in Private Complaint Alleging Cheating and Criminal Breach of Trust — Held That Magistrate Must Apply Judicial Mind Before Ordering Investigation, Not Act as Post Office.

The Petitioner, Kamal J. Sheth, filed a Writ Petition under Articles 226 and 227 of the Constitution of India read with Section 482 of the Criminal Pr...