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Supreme Court Quashes Criminal Proceedings in Cheating Case Arising from Commercial Transaction. Failure to Repay Debt Does Not Automatically Attract Section 420 IPC Without Proof of Initial Dishonest Intention.

The Supreme Court allowed the appeal against the High Court's refusal to quash criminal proceedings under Section 420 IPC. The appellant was a busines...

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Supreme Court Allows Assessee's Appeal in Income Tax Dispute Over Non-Compete Fee Taxability. Amount Received Under Deed of Covenant Held as Capital Receipt Not Taxable Under Section 28(ii)(a) of Income Tax Act, 1961, Due to Separate Genuine Transaction and Procedural Error in High Court's Judgment.

The appeal concerned the assessment year 1995-96 involving Shri Shiv Raj Gupta, Chairman and Managing Director of Central Distillery and Breweries Ltd...

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Bombay High Court Allows Appeal in Cheque Dishonour Case, Sets Aside Acquittal. Presumption under Sections 118(a) and 139 of Negotiable Instruments Act, 1881 not rebutted by accused.

The appellant, Dr. Kailash Charkha, was the original complainant in Summary Criminal Case 160 of 2004 before the Judicial Magistrate First Class, Wash...

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Bombay High Court Allows Complainant in Dishonour of Cheque Cases, Holding That Territorial Jurisdiction Lies Where the Cheque Is Presented for Encashment Under Section 138 of the Negotiable Instruments Act, 1881. Cheques Payable at Par Confer Jurisdiction at the Drawee Bank Branch Where Presented.

The petitioner, Helcino Aleixo Fernandes, a businessman residing in Majorda, Goa, filed nine complaints under Section 138 of the Negotiable Instrument...

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Bombay High Court Dismisses Suit for Declaration of Trust and Accounts Against Bank in Palm Oil Import Dispute. Consent Decree in Prior Suit Bars Plaintiff from Claiming Sale Proceeds as Trust Property.

The plaintiffs, Bajranglal Anilkumar Jaju and Hitesh Anilkumar Jaju, filed Suit No. 824 of 1980 against The Vyasya Bank Ltd. seeking a declaration tha...

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Bombay High Court Allows Appeals Under Section 37 of Arbitration Act, Restoring Arbitral Award in Shareholder Dispute. Court Holds That Single Judge Exceeded Jurisdiction Under Section 34 by Reappreciating Evidence and Substituting His Own View.

The case involves two appeals under Section 37 of the Arbitration and Conciliation Act, 1996, filed by M/s. Goldstar Metal Solutions Pvt. Ltd. and M/s...

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Bombay High Court Allows Revenue Appeal in Income Tax Case on Lease Rental Deduction for Idle Machinery. Business decision to keep dozers idle and pay lease rentals without use held not allowable as expenditure under Section 37(1) of Income Tax Act, 1961.

The Revenue appealed against the order of the Income Tax Appellate Tribunal (ITAT) which had allowed the assessee's claim for deduction of lease renta...

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Bombay High Court Allows Appeal in Cheque Dishonour Case, Sets Aside Acquittal and Convicts Accused Under Section 138 of Negotiable Instruments Act, 1881. Presumption Under Section 139 of NI Act Shifts Burden on Accused, Which Was Not Discharged.

The appellant, Mohammad Murtuza Mohammad Yusuf, filed a complaint under Section 138 of the Negotiable Instruments Act, 1881, against the respondent, G...

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Bombay High Court Rules on Disallowance Under Rule 6D and Allowability of Spouse's Foreign Travel Expenses. Disallowance under Rule 6D of Income-tax Rules, 1962 must be computed on annual per employee basis, not per trip; expenditure on wife's foreign trip allowable if wholly and exclusively for business.

The case is an income tax reference under Section 256(1) of the Income-tax Act, 1961, arising from a dispute between the Commissioner of Income-tax, B...