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Supreme Court Upholds Expulsion of Trading Member for Violating Gross Exposure Limits and Failing to Maintain Capital Adequacy. Securities Contracts (Regulation) Act, 1956 - Section 22F - Appeal against Securities Appellate Tribunal order upholding expulsion from National Stock Exchange membership.

The appellant, Rusoday Securities Ltd., was a trading member of the National Stock Exchange of India Ltd. (NSE) since November 1994 and gave an undert...

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Supreme Court Upholds SEBI Order Against Corporate Giant in Futures Manipulation Case. The Court held that cornering 93.63% open interest through agents and dumping shares to depress settlement price constituted fraud under PFUTP Regulations.

The case involves appeals by Reliance Industries Limited (RIL) against orders of the Securities Appellate Tribunal (SAT) which upheld SEBI's findings ...

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Bombay High Court Allows Revenue's Appeal in Rental Income Classification Case. Rental income from leasing unsold units of a commercial complex constructed by a real estate developer is assessable as business income, not income from house property.

The case involves multiple appeals filed by the Commissioner of Income Tax against the common order of the Income Tax Appellate Tribunal (ITAT) which ...

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High Court of Bombay Dismisses Petitions Challenging Arbitral Award in Stock Broker Dispute. Court Upholds Arbitral Tribunal's Findings of Fact and Rejects Challenge Under Section 34 of Arbitration and Conciliation Act, 1996.

The judgment concerns multiple arbitration petitions filed under Section 34 of the Arbitration and Conciliation Act, 1996, challenging an arbitral awa...

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Bombay High Court Allows Assessee's Appeal in Income Tax Penalty Case — Penalty Under Section 271(1)(c) Set Aside as Surrender of Income Was to Buy Peace, Not Concealment. Stock Difference Detected During Survey Was Not Deliberately Concealed and Related to Earlier Assessment Year.

The appellant-assessee, a partnership firm running a bar and restaurant, was subjected to a survey under Section 133A of the Income Tax Act, 1961 on 1...

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Bombay High Court Dismisses Petition Challenging Arbitral Award in Stock Broker Dispute Over Unreturned Shares. Concurrent findings of arbitral tribunals that stock broker failed to return client's shares and dividends upheld under Section 34 of Arbitration and Conciliation Act, 1996.

The petitioner, Manoj Javeri Stock Broking Pvt. Ltd., a member of the Bombay Stock Exchange, challenged an arbitral award and appellate award dated 17...

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Bombay High Court Dismisses Petition Challenging Arbitral Award in Stock Broker Dispute Over Unreturned Shares. Concurrent findings of arbitral tribunals that stock broker failed to return client's shares and dividends upheld under Section 34 of Arbitration and Conciliation Act, 1996.

The petitioner, Manoj Javeri Stock Broking Pvt. Ltd., a member of the Bombay Stock Exchange, challenged an arbitral award and appellate award dated 17...