Search Results for "borrowed funds"

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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 Upholds Refusal to Eschew Proof Affidavit in Probate Proceedings. ...
Supreme Court Allows Agriculturists' Appeal for Enhanced Compensation; Condones ...

Search Results for "borrowed funds"

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High Court

High Court of Karnataka Dismisses Revenue's Appeal in Income Tax Case — Disallowance of Interest on Funds Advanced to Sister Concern Not Justified When Own Funds Exceed Advances. The court upheld the Tribunal's finding that no disallowance under Section 36(1)(iii) of the Income Tax Act, 1961 is warranted when the assessee's own funds are sufficient to cover advances to sister concerns.

7 Oct 2015

The case involves appeals filed by the Revenue under Section 260A of the Income Tax Act, 1961, against the common order of the Income Tax Appellate Tr...

High Court

High Court of Karnataka Allows Appeal in Recovery Suit — Loan Repayment Claim Upheld Despite Lack of Written Agreement. Preponderance of Probabilities Favored Plaintiff as Defendant Admitted Receipt of Money but Failed to Prove Alternative Purpose.

19 Aug 2019

The appellant, Mr. Manjunath S., filed a Regular First Appeal under Section 96 of the Code of Civil Procedure, 1908, against the judgment and decree d...

Supreme Court

Supreme Court Dismisses Appeal in Insolvency Case Due to Lack of Financial Creditor Status. Interest-Free Term Loan Does Not Qualify as Financial Debt Under Section 5(8) of the Insolvency and Bankruptcy Code, 2016 as It Lacks Consideration for Time Value of Money.

26 Jul 2021

The appeal arose under Section 62 of the Insolvency and Bankruptcy Code, 2016 (IBC) against the dismissal by the National Company Law Appellate Tribun...

High Court

Bombay High Court Quashes FIR Against Finance Company for Vehicle Repossession Under Section 482 CrPC — Loan Default and Hypothecation Agreement Justify Taking Possession of Excavator. The court held that repossession of a hypothecated vehicle upon default does not constitute theft under Section 379 IPC, and continuing criminal proceedings would be an abuse of process.

11 Dec 2023

The case involves an application filed by Tata Capital Ltd. (Applicant No.1) and its Regional Collection Manager, Mr. Vipul Upadhyay (Applicant No.2),...

High Court

Bombay High Court Dismisses Criminal Writ Petition in Loan Dispute — Civil Nature of Transaction Precludes Criminal Liability. Failure to Repay Loan Does Not Attract Offences Under Sections 406 and 420 IPC Without Evidence of Entrustment or Deception at Inception.

26 Sep 2013

The petitioner, Satish @ Sanjay Dagadu Padwal, filed a criminal complaint against respondent No.2, Ashok Shivaji Padwal, alleging offences under Secti...

Supreme Court

Supreme Court Allows Appeal in Cheque Dishonour Case, Restores Conviction Under Section 138 NI Act. Presumption of Legally Enforceable Debt Not Rebutted by Accused Despite Additional Evidence.

20 Aug 2024

The appellant, Sri Sujies Benefit Funds Limited, a chit fund company, filed a complaint under Section 138 of the Negotiable Instruments Act, 1881 agai...

High Court

High Court of Bombay Dismisses Revenue's Appeal in Cooperative Sugar Factory Case — Disallowance of Interest on Borrowed Capital Not Justified When Own Funds Exceed Investment. Section 36(1)(iii) of Income Tax Act, 1961 does not permit disallowance of interest on borrowed capital if assessee's own interest-free funds are sufficient to cover the investment.

5 Sep 2014

The Commissioner of Income Tax, Aurangabad, filed an appeal under Section 260A of the Income Tax Act, 1961, against the order of the Income Tax Appell...

High Court

Bombay High Court Allows Assessee's Appeal in Income Tax Case on Interest Deduction Under Section 36(1)(iii) — Section 14A Not Applicable When No Exempt Income Earned. Interest on Borrowed Capital Invested in Shares of Own Companies Held Allowable as Business Expenditure.

1 Mar 2024

The appellant, Mahesh K. Mehta, a chartered accountant turned stock broker, acquired membership of the Bombay Stock Exchange in 1987 and the National ...

High Court

Bombay High Court Directs Conditionally Leaves to Defend for Guarantors in Summary Suit, Rejecting DRT Jurisdiction and IBC Moratorium Claims. A Non-Banking Financial Institution's Summary Suit Against Guarantors is Maintainable Under Order XXXVII CPC, and Section 14 IBC Moratorium Does Not Bar Proceedings Against Guarantors.

28 Nov 2017

The plaintiff, a non-banking financial institution, filed a summary suit under Order XXXVII of the Code of Civil Procedure, 1908 against two guarantor...

High Court

High Court of Karnataka Considers Cross-Appeals in Suit for Specific Performance and Injunction — Interim Relief Sought Under CPC and Commercial Courts Act. The suit concerned enforcement of a Negative Lien Letter and personal guarantees, with the plaintiff bank seeking to restrain alienation of assets.

17 Apr 2021

The case involves cross-appeals arising from a commercial suit filed by Bank of Baroda against Dr. Bavaguthu Raghuram Shetty and Dr. Chandrakumari Rag...

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