Co-operative society's mandatory reserve and share capital fixed deposits with banks-interest treated as business income under 80P(2)(a)(iii) deductio...
Income tax reassessment reopening after four years on investigation tip, without s.147 proviso disclosure failure, struck down as borrowed satisfactio...
The dominant issue was whether inherent jurisdiction under Section 528 of the Bharatiya Nagarik Suraksha Sanhita could be invoked to quash a conviction and sentence for cheque dishonour under Section 138 of the NI Act after the criminal revision had been finally decided. The Court held that final adjudication of a criminal revision exhausts the Court's power to reopen the conviction through inherent jurisdiction; earlier single-judge authority suggesting otherwise was not accepted as permitting such post-revisional interference, and a contrary view in a later case was treated as fact-specific and not laying down a binding principle. The petition was dismissed as not maintainable, reserving liberty to pursue permissible remedies. - HC
The dominant issue was whether inherent jurisdiction under Section 528 of the Bharatiya Nagarik Suraksha Sanhita could be invoked to quash a conviction and sentence for cheque dishonour under Section 138 of the NI Act after the criminal revision had been finally decided. The Court held that final adjudication of a criminal revision exhausts the Court's power to reopen the conviction through inherent jurisdiction; earlier single-judge authority suggesting otherwise was not accepted as permitting such post-revisional interference, and a contrary view in a later case was treated as fact-specific and not laying down a binding principle. The petition was dismissed as not maintainable, reserving liberty to pursue permissible remedies. - HC
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