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Today's Important Supreme Court of India Judgments / Orders [Tuesday, 24th April 2018]

1. Cheran Propertiees Limited Vs. Kasturi and Sons Limited

Companies Act, 2013 - S. 423 - Arbitration and Conciliation Act, 1996 - Ss. 7, 35 - Arbitration Agreement - National Company Law Appellate Tribunal (NCLAT) - National Company Law Tribunal (NCLT) - Appeal -  the arbitral award, in essence, postulates the transmission of shares from the appellant to the claimant - only remedy available for effectuating the transmission is that which was provided in Section 111 for seeking a rectification of the register.

Case Number : C. A. No. 10025 - 10026 / 2017 24-04-2018
Petitioner's Advocate : Abhinav Shrivastava
Bench : Hon'ble The Chief Justice, Hon'ble Mr. Justice A. M. Khanwilkar, Hon'ble Dr. Justice D. Y. Chandrachud
Judgment By : Hon'ble Dr. Justice D. Y. Chandrachud

2. Tamil Nadu Medical Officers Association Vs. Union of India

Medical Council of India Post-Graduate Medical Education Regulations 2000, as amended on 15 February 2012 - Regulations 9(IV) and 9(VII) - The grant of any interim relief at the present stage would amount to a mandatory final order which cannot be countenanced. MCI has, as an expert body, proceeded on a principled basis. Any attempt at this stage to read into Regulation 9(IV), a separate source of entry or a reservation for in-service candidates in degree courses would impinge upon Entry 66 of List I and the exercise of regulatory powers under the central statute.

Case Number : W. P. (C) No. 196 / 2018 24-04-2018
Petitioner's Advocate : Khaitan & Co. 
Judgment By : Hon'ble Dr. Justice D. Y. Chandrachud


3. Commissionr of Income Tax IV Ahmedabad Vs. Shree Rama Multi Tech. Ltd.

Whether interest accrued on account of deposit of share application money is taxable income ? Held, interest income earned out of the share application money is liable to be set off against the public issue expenses.

Case Number : C. A. No. -006391-006391 / 2013 24-04-2018
Petitioner's Advocate : Anil Katiyar
Bench : Hon'ble Mr. Justice R. K. Agrawal, Hon'ble Mr. Justice Abhay Manohar Sapre
Judgment By : Hon'ble Mr. Justice R. K. Agrawal

4. Tapan Kumar Dutta Vs. Commnr. of Income Tax, West Bengal

Whether the issue of Second (Fresh) Notice under Section 158BD of the IT Act is valid or not? Held, The very object of the Section 158BD is to give jurisdiction to the Assessing Officer to proceed against any person other than the person against whom a search warrant is issued. Although Section 158BD does not speak of ‘recording of reasons’ as postulated in Section 148, but since proceedings under Section 158BD may have monetary implications, such satisfaction must reveal mental and dispassionate thought process of the Assessing Officer in arriving at a conclusion and must contain reasons which should be the basis of initiating the proceedings under Section 158BD.

Case Number : C. A. No. -002014-002014 / 2007 24-04-2018
Petitioner's Advocate : K.V. Mohan
Respondent's Advocate : B.V. Balaram Das
Bench : Hon'ble Mr. Justice R. K. Agrawal, Hon'ble Mr. Justice Abhay Manohar Sapre
Judgment By : Hon'ble Mr. Justice R. K. Agrawal

5. Income Tax Officer Ward No. 16(2) Vs. M/s Techspan India Private Ltd.

Income Tax Act, 1961 - Ss. 147 & 148 - Income escaping assessment - Issue of notice where income has escaped assessment - Section 147 of the IT Act does not allow the re-assessment of an income merely because of the fact that the assessing officer has a change of opinion with regard to the interpretation of law differently on the facts that were well within his knowledge even at the time of assessment. Doing so would have the effect of giving the assessing officer the power of review and Section 147 confers the power to re-assess and not the power to review.

Case Number : C. A. No. 2732 / 2007 24-04-2018
Petitioner's Advocate : Anil Katiyar
Respondent's Advocate : Bhargava V. Desai
Bench : Hon'ble Mr. Justice R. K. Agrawal, Hon'ble Mr. Justice Abhay Manohar Sapre
Judgment By : Hon'ble Mr. Justice R. K. Agrawal


6. B. L. Passi Vs. Commissioner of Income Tax (XI)

Income Tax Act, 1961 - S. 80 O - Deduction in respect of royalities etc. from certain foreign enterprises - the services of managing agent rendered to a foreign company, are not technical services within the meaning of Section 80-O of the IT Act.

Case Number : C. A. No. 3892 / 2007 24-04-2018
Petitioner's Advocate : Bina Gupta
Bench : Hon'ble Mr. Justice R. K. Agrawal, Hon'ble Mr. Justice Abhay Manohar Sapre
Judgment By : Hon'ble Mr. Justice R. K. Agrawal

7. Delhi Administration Vs. Vidya Gupta

Case Number : Crl. A. No. 625 / 2018 24-04-2018
Petitioner's Advocate : B.V. Balaram Das
Respondent's Advocate : M.C. Dhingra
Bench : Hon'ble Mr. Justice S. A. Bobde, Hon'ble Mr. Justice L. Nageswara Rao
Judgment By : Hon'ble Mr. Justice S. A. Bobde