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  Wealth Tax Act, 1957. Equity shares under the lock-in period and not quoted in any recognised stock exchange with regularity from time to time cannot be considered as “quoted shares”. Supreme Court.

  • 15-October-2022
  • Daksha Legal
• 

  Specific performance. So long as a suit for specific performance is filed within the period of limitation, delay cannot be a ground to refuse the relief of specific performance to the plaintiff. Supreme Court.

  • 14-October-2022
  • Daksha Legal
• 

  Landowners who obtained statusquo order cannot contend that as the award has not been declared, they shall be entitled to the enhanced amount of compensation under the provisions of the Act, 2013. Supreme Court.

  • 14-October-2022
  • Daksha Legal
• 

  Income Tax Act. When employer deposits employees contribution towards the EPF and ESI belatedly such sums received by the employer constitutes income. Supreme Court.

  • 17-October-2022
  • Daksha Legal
• 

  When part payment of cheque amount is made before presentation, such payment must be endorsed on the cheque. Otherwise complaint under Section 138, NI Act is not maintainable. Supreme Court.

  • 13-October-2022
  • Daksha Legal
• 

  Interpretation of statutes. ‘Removal of difficulty clause’ cannot be used to change the scheme and essential provisions of a legislation. Supreme Court.

  • 13-October-2022
  • Daksha Legal
• 

  Acquisition for a single company can be made and notifications under Sections 1(3), 3(1) and 28(1) can be issued simultaneously under the Karnataka Industrial Areas Development Act, 1966. Supreme Court.

  • 13-October-2022
  • Daksha Legal
• 

  Merely because a person is a director of a company, it is not necessary that he is aware about the day today functioning of the company to make him liable for criminal prosecution under the Drugs & Cosmetics Act, 1940. Supreme Court.

  • 13-October-2022
  • Daksha Legal
• 

  A proprietary concern is not required to be arrayed as a separate party in a proceeding under Section 138 of the Negotiable Instruments Act. Karnataka High Court.

  • 13-October-2022
  • Daksha Legal
• 

  Passing of second award for lands acquired under the National Highways Act, 1956 is without jurisdiction which can be quashed by a Writ despite the availability of alternate remedy under the Act. Karnataka High Court.

  • 17-October-2022
  • Daksha Legal
• 

  Corporation cannot demand tax in respect of an industrial plot unless the industrial area is included within the Corporation limits. Karnataka High Court.

  • 14-October-2022
  • Daksha Legal
• 

  Issuance of fifteen days notice for moving no confidence motion under the Karnataka Panchayat Raj Act and the Rules is mandatory. Karnataka High Court.

  • 17-October-2022
  • Daksha Legal