Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
The SC held that the National Consumer Disputes Redressal Commission lacks jurisdiction to interfere with banking operations, which is the exclusive statutory domain of the RBI. It cannot fix a maximum ceiling rate of interest for banks to charge credit card holders or direct banks to charge interest not exceeding 30% p.a., in absence of RBI instructions. Charging interest rates as per RBI circulars/notifications, independent of a standard ceiling, does not constitute an unfair trade practice. The terms of a contract between parties cannot be judicially scrutinized unless arbitrary, discriminatory or mala fide. The impugned judgment interfered with contractual terms and the RBI's regulatory powers, hence was set aside.
The SC held that the National Consumer Disputes Redressal Commission lacks jurisdiction to interfere with banking operations, which is the exclusive statutory domain of the RBI. It cannot fix a maximum ceiling rate of interest for banks to charge credit card holders or direct banks to charge interest not exceeding 30% p.a., in absence of RBI instructions. Charging interest rates as per RBI circulars/notifications, independent of a standard ceiling, does not constitute an unfair trade practice. The terms of a contract between parties cannot be judicially scrutinized unless arbitrary, discriminatory or mala fide. The impugned judgment interfered with contractual terms and the RBI's regulatory powers, hence was set aside.
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