Attachment and proclamation of sale of immovable property: limitation treated from financial year end; proclamation held within period, petition dismi...
Second Schedule attachment and validity of a post-notice mortgage: TRO cannot declare mortgage void ab initio; sale and appropriation allowed thereaft...
Limitation for final assessment under sections 144C and 153 treated jointly, resulting in quashing of timebarred assessment order and liberty to reviv...
Deductibility of settlement payments for securities law penalties and treatment of unexplained cash credits in share trading -- Tribunal upholds posit...
In a second application for regular bail in an SFIO prosecution alleging diversion of cooperative society funds and offences including fraud under the Companies Act, the court considered whether prolonged incarceration and delay in trial justified relaxation of the twin conditions under s.212(6). While acknowledging that such conditions may be diluted where incarceration is unduly prolonged, it held that a successive bail plea must still demonstrate a substantial change in circumstances. Given the gravity of allegations (including large-scale siphoning), absence of substantiation of claimed repayment, and the prior reasoned rejection of bail affirmed by the apex court, no such change was shown; bail was refused and the trial court was directed to expedite the trial. - HC
In a second application for regular bail in an SFIO prosecution alleging diversion of cooperative society funds and offences including fraud under the Companies Act, the court considered whether prolonged incarceration and delay in trial justified relaxation of the twin conditions under s.212(6). While acknowledging that such conditions may be diluted where incarceration is unduly prolonged, it held that a successive bail plea must still demonstrate a substantial change in circumstances. Given the gravity of allegations (including large-scale siphoning), absence of substantiation of claimed repayment, and the prior reasoned rejection of bail affirmed by the apex court, no such change was shown; bail was refused and the trial court was directed to expedite the trial. - HC
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