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Supreme Court

Supreme Court Allows Appeal in Income Tax Case: Subscriptions Received Under Collective Investment Schemes Held to be Capital Receipts Not Income. Peerless General Finance's Subscriptions Not Forfeited During Assessment Years, Hence Not Taxable as Income.

9 Jul 2019

The appeal arose from a dispute between The Peerless General Finance and Investment Company Ltd. (appellant) and the Commissioner of Income Tax (respo...

Supreme Court

Supreme Court Dismisses Contempt Petitions Against RBI for Alleged Disobedience of RTI Directions. RBI's Disclosure Policy and Individual Information Requests Held Not in Contempt of Court's Earlier Judgment.

26 Apr 2019

The Supreme Court dismissed three contempt petitions filed against the Reserve Bank of India (RBI) alleging wilful disobedience of its judgment dated ...

Supreme Court

Supreme Court Allows Suspension of Sentence in Bank Fraud Case Due to Erroneous Aggregation of Concurrent Sentences. High Court's Rejection of Bail Under Section 389 CrPC Set Aside as It Overlooked Trial Court's Direction That All Sentences Run Concurrently, Reducing Maximum Imprisonment to 7 Years.

16 Apr 2019

The appellant, N. Ramamurthy, was convicted by the Special Judge for CBI cases in Bengaluru for offences under Section 120-B read with Sections 409, 4...

Supreme Court

Supreme Court Upholds Constitutional Validity of Sections 35AA and 35AB of Banking Regulation Act, 1949 and RBI Circular on Stressed Assets Resolution. The Court held that the RBI circular dated 12.02.2018 is valid and not arbitrary, and that the requirement of 100% lender consent for restructuring and mandatory IBC reference for large accounts is within RBI's powers.

2 Apr 2019

The present batch of petitions and transferred cases challenged the constitutional validity of Sections 35AA and 35AB of the Banking Regulation Act, 1...

Supreme Court

Supreme Court Allows Bank's Appeal in Disciplinary Matter: Non-Supply of Inquiry Report Before 1990 Not Fatal; Disagreement Reasons Must Be Communicated. The Court restored punishments of reversion and removal from service imposed on a bank employee for gross negligence and fraud.

1 Jan 2019

The Supreme Court dealt with two appeals by the State Bank of India against a common High Court order that set aside disciplinary punishments imposed ...

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