Draft Rules for prescribing the manner of determination of amount received by the Company

Under section 115QA of the Income-tax Act, 1961 (the Act), additional Income-tax at the rate of 20 percent is levied on the distributed income arising out of buy back of unlisted share by the company.The Finance Act, 2016 has amended the definition of “distributed income”, with effect from 01.06.2016, to mean the consideration paid by the company on buy back of shares as reduced by...

Rajasthan HC acquits Salman Khan in poaching cases [Read Judgment]

Rajasthan High Court has acquitted Salman Khan in Chinkara poaching Case by allowing his Criminal Revision Petition filed against the Judgment of Sessions Court which affirmed the order of Conviction and sentence passed by Chief Judicial Magistrate, Jodhpur. The CJM had convicted him under S.51 of Wild Life Protection Act and sentenced to undergo 5 years' simple imprisonment along with fine...

Illegitimate son eligible for Govt. job on compassionate grounds: Madras HC [Read Order]

The High Court of Madras recently dismissed an appeal filed by Chennai Metro Water Supply & Sewerage Board (CMWSSB), holding that illegitimate sons are eligible for government employment on compassionate grounds.“Though the respondent may be an illegitimate son, still, that does not come in his way for seeking the benefit of compassionate appointment so long as he takes care of the...

High Courts Weekly Round-Up

Bombay High CourtThe Government, being the largest litigant, has to be a model and ideal litigant, a division bench of the Bombay High Court observed while refusing to condone the delay by the Government in preferring Appeals.  The Bench also observed that merely because applicant is a State, delay in filing appeals cannot be condoned without a proper explanation as Section 5 of the...

Reserved category candidate is entitled to be considered for compassionate appointment against a General category post: MP HC

However, a General category candidate does not have any such right of consideration against a reserve category post, the Court clarified.The High Court of Madhya Pradesh has held that a reserve category candidate is entitled to be considered for compassionate appointment against a General category post. Justice Sujoy Paul observed that appointment/candidature of reserved category candidate...

Courts shall minimize interference with arbitration process: Delhi HC (DB) [Read Order]

Courts need to remind themselves that the trend is to minimize interference with arbitration process as that is the forum of choice, the Bench said.A Division Bench of the Delhi High Court in MCDONALD’S INDIA PRIVATE LIMITED VS. VIKRAM BAKSHI has observed that, Courts must be extremely circumspect and, indeed, reluctant to thwart arbitration proceedings and the power to injunct...

A vested right cannot be taken away except by a law which is expressly made retrospective: Delhi HC (DB) [Read Order]

In a relief to a trio who had cleared the recruitment process for being appointed as a constable in a Central Armed Police Force, the Delhi High Court has quashed the termination orders against them wherein they were informed by the CISF that their very candidature has been cancelled because their certificate is found to be invalid since the Institution they studied was...

There is no legal bar for Banks to publish the Photographs of wilful defaulters : Madhya Pradesh HC [Read Order]

There are conflicting Judgments of various High Courts in this issueThe High Court of Madhya Pradesh in M/S Prakash Granite Industries vs. The Punjab National Bank, has reiterated that, it is within the propriety of the Bank to publish a photograph of defaulter in newspaper in the event of failure on the part of such borrowers.Justice Sanjay Yadav dismissed a Writ petition holding that it...

Five Bills passed during first week of Monsoon session; Govt. lines up four more Bills

Following the productive first week of the current Monsoon session of Parliament during when five of the 16 Bills proposed by the Government were passed, four more Bills have been proposed by the Government for consideration and passing. These include the Benami Transactions (Prevention) Amendment Bill, 2015 and the Citizenship (Amendment) Bill, 2016 in Lok Sabha and the Prevention of...

CIC endorses NCPCR mechanism to address complaints of corporal punishment in schools [Read Order]

The Central Information on Friday endorsed the guidelines laid down by National Commission for Protection of Child Rights (NCPCR), for Eliminating Corporal Punishment in Schools.CIC Prof. Sridhar Acharyulu directed the School Boards to issue guidelines to the schools affiliated to them, stipulating that ‘corporal punishment-free environment’ would be one of the conditions for...

Applicability of CPC to a Writ petition under Article 227 of the Constitution of India: Patna HC refers issue to DB [Read Judgment]

However, the issue under controversy is not whether its (CPC)application should be waived, rather whether it applies or not, the Court said.Single Bench of the Patna High Court has referred to Division Bench, the question whether procedure prescribed in Code of Civil Procedure would apply to the petition under Article 227 of the Constitution of India, whenever matter is against the order...

There is no official estimation of the amount of black money stashed away abroad: Finance Minister

There is no official estimation of the amount of black money stashed away abroad. Various non-governmental organizations and economists in the past have indicated certain estimations of illicit financial flows out of the country. Such estimations appear to be based upon different sets of facts, assumptions, presumptions, etc. leading to widely varying inferences, which lacked unanimity...