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...
Contravention of foreign exchange rules in crossborder diamond payments; appellate tribunal reduces one appellant's penalty for delay and proportional...
Explanation to Order 47 Rule 1 CPC restricts review jurisdiction where a judgment rests on a question of law later reversed or modified by a superior court; change in law or a subsequent coordinate or larger bench decision does not alone permit review. The tribunal's allowance of review and condonation of delay based solely on a liberty granted without determining the Explanation's bar was disapproved. Where a higher court has resolved conflicting bench decisions and directed which precedent governs, lower forums must follow that binding choice, and orders granting review contrary to that binding precedent were set aside.
Explanation to Order 47 Rule 1 CPC restricts review jurisdiction where a judgment rests on a question of law later reversed or modified by a superior court; change in law or a subsequent coordinate or larger bench decision does not alone permit review. The tribunal's allowance of review and condonation of delay based solely on a liberty granted without determining the Explanation's bar was disapproved. Where a higher court has resolved conflicting bench decisions and directed which precedent governs, lower forums must follow that binding choice, and orders granting review contrary to that binding precedent were set aside.
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