Search Results for "asset diversion"

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Bombay High Court Allows Appeals by Acquiring Body in Land Acquisition Compensat...
Bombay High Court Dismisses NHAI Appeals in Land Acquisition Compensation Disput...
Bombay High Court Dismisses Writ Petition Challenging Concurrent Findings in Sui...
Supreme Court Dismisses Appeal in Compulsory Retirement Case Based on Declining ...
Supreme Court Upholds High Court's Determination that Non-Signatory to MoS Not B...

Search Results for "asset diversion"

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High Court

Bombay High Court Division Bench Admitted and Heard Commercial Arbitration Appeal Challenging Single Judge's Refusal to Enforce Three Foreign Arbitral Awards Under Section 50 of Arbitration and Conciliation Act, 1996. Appeal Involves Enforcement Against Non-Signatory Related Companies and Alleged Asset Diversion Through Demerger Schemes to Defeat Execution of ICC London Awards Totaling Over USD 20 Million.

30 Dec 2025

The appeal originated from a dispute between Imax Corporation (appellant) and E-City Entertainment (I) Pvt. Ltd. (first respondent) arising from a Mas...

High Court

High Court of Karnataka Quashes SARFAESI Notices Against MSME Borrower for Non-Compliance with Mandatory Pre-Action Protocol. Bank's failure to follow RBI Circular dated 29.05.2015 requiring classification as NPA only after 90 days and issuance of 60-day notice before invoking SARFAESI renders proceedings invalid.

29 Apr 2025

The petitioners, M/s. Metro Steel Section (Firm) and its partners, are MSME borrowers who availed credit facilities from the State Bank of India. The ...

Supreme Court

Supreme Court Allows NCDC's Appeal in Income Tax Dispute Over Deduction of Grants as Revenue Expenditure. Grants disbursed by a statutory corporation as part of its business are deductible under Section 37 of the Income Tax Act, 1961, regardless of the capital nature of the source funds.

11 Sep 2020

The National Co-operative Development Corporation (NCDC), established under the National Co-operative Development Corporation Act, 1962, is a statutor...

Supreme Court

Supreme Court Dismisses Suit by Tamil Nadu Against Karnataka Over Pennaiyar River Water Dispute — Maintainability Barred Under Article 262 and Inter-State River Water Disputes Act, 1956. Court Holds That Disputes Relating to Inter-State River Waters Are Exclusively Triable by a Tribunal Under the ISWD Act, 1956, and Not by the Supreme Court Under Article 131.

14 Nov 2019

The State of Tamil Nadu filed Original Suit No. 1 of 2018 under Article 131 of the Constitution of India against the State of Karnataka and the Union ...

High Court

Bombay High Court Quashes Bank's Wilful Defaulter Declaration for Violating Natural Justice. Show-cause notice lacking specific grounds renders the decision invalid under RBI Master Circular on Wilful Defaulters.

17 Jul 2019

The petitioners, Nitin Shah, Rahul Shah, and Kunal Shah, who were directors of Nitin Fire Protection Industries Ltd. (the corporate debtor under CIRP)...

High Court

High Court of Karnataka Hears Revenue's Appeals Against ITAT Decision Favoring Assessee on Deduction of Distributable Surplus Payment to Brand Owner. Court Examines Whether Payment is Allowable Under Section 37 of Income Tax Act, 1961 or Constitutes Application of Income or Diversion by Overriding Title.

25 Sep 2018

The present set of five tax appeals arises under Section 260-A of the Income Tax Act, 1961, filed by the Revenue against the common order of the Incom...

High Court

INCOME TAX APPEAL NO. 499 OF 2012

14 Oct 2014

The appeal before the High Court arose out of an order passed by the Income Tax Appellate Tribunal (ITAT) dismissing the assessee's appeal and upholdi...

High Court

High Court Dismisses Appeal Against Winding-Up Order in Bond Default Case; Upholds Adverse Remarks Against Directors for Fund Diversion. Company Found Unable to Pay Debts and Substratum Lost, Justifying Winding Up Under Sections 433(e) and 433(f) of Companies Act, 1956.

23 Apr 2014

The appeal arose from a winding-up order passed by the learned company Judge against Zenith Infotech Limited (the appellant) in a petition filed by Th...

High Court

Bombay High Court Allows Revenue's Appeal in Part and Assessee's Appeal on Mortgage Repayment Issue. Repayment of mortgage debt created by the assessee is an expenditure incurred in connection with the transfer of mortgaged asset allowable under Section 48(i) of the Income Tax Act, 1961.

31 Jan 2005

The judgment involves two tax appeals, one by the revenue and one by the assessee, arising from a common issue regarding the allowability of repayment...

High Court

Bombay High Court Allows Assessee's Appeal in Income Tax Case Regarding Deduction of Mortgage Repayment Under Section 48(i). The court held that repayment of mortgage debt is an expenditure incurred in connection with transfer of mortgaged asset, allowable under Section 48(i) of Income Tax Act, 1961.

31 Jan 2005

The judgment involves two tax appeals, one by the revenue and one by the assessee, arising from a common issue regarding the allowability of mortgage ...

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