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...
Threshold for allottee-initiated insolvency petitions in leasehold real estate upheld; petition admitted after possession letters deemed legally ineff...
In prosecution for cheque dishonour, the dominant issue was whether the cheques were issued towards a legally enforceable debt on the date of issuance/presentation. The court held that the accused probabilised a defence that the cheques were blank security instruments taken from guarantors in a third-party loan transaction, supported by defence testimony, prior police complaint alleging threats/misuse, absence of any reflected loan transaction in tax records, and improbability of voluntary re-presentation amid strained relations, while the complainant, an unregistered financier, failed to adduce independent rebuttal evidence or even specify the date of issuance. Consequently, conviction was set aside, accused were acquitted, and deposits were directed to be refunded. - HC
In prosecution for cheque dishonour, the dominant issue was whether the cheques were issued towards a legally enforceable debt on the date of issuance/presentation. The court held that the accused probabilised a defence that the cheques were blank security instruments taken from guarantors in a third-party loan transaction, supported by defence testimony, prior police complaint alleging threats/misuse, absence of any reflected loan transaction in tax records, and improbability of voluntary re-presentation amid strained relations, while the complainant, an unregistered financier, failed to adduce independent rebuttal evidence or even specify the date of issuance. Consequently, conviction was set aside, accused were acquitted, and deposits were directed to be refunded. - HC
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