[Deemed Dividend] Accumulated Profits Of Company U/S 2(22)(e) Of Income Tax Act Are Computed After Adjusting Depreciation: Telangana HC

The Telangana High Court has held that for purposes of taxation, “accumulated profits” of a company are to be calculated after adjusting depreciation as per the Income Tax Act, 1961. In ruling so, a division bench of Chief Justice Alok Aradhe and Justice J. Sreenivas Rao cited two rulings of the Bombay High Court which held that “depreciation as granted in accordance with...

Transmission Corporation Inherited Andhra Pradesh Electricity Board's Service Regulations, Power To Amend Impliedly Available: Telangana HC

While upholding the validity of an order issued by the Transmission Corporation of Telangana Limited (TRANSCO) deleting beneficial provisions regarding service weightage for promotion to Additional Assistant Engineer posts, the Telangana High Court ruled that the corporation has the power to amend the relevant service regulations. A division bench of Justice Sujoy Paul and Justice...

8 Month "Absolute Lull" When Girl Went Missing, No Signs Of Forcible Detention On Her Body: Telangana HC Nixes Man's Rape Conviction

The Telangana High Court set aside a man's conviction for allegedly raping a girl for eight months after noting that if the girl was– as claimed by her, detained for eight months and her limbs were tied, her body would show signs of forcible detention which was not the case- raising suspicion about this version. In doing so the court further observed that there was an absolute "lull"...

Lok Adalat Has Power To Pass Compromise Award, Cannot Adjudicate In Absence Of Settlement: Telangana High Court

While quashing an order of a Mandal Legal Services Committee (MLSC) after noting that it was not a compromise/settlement award but in the nature of an execution petition pertaining to a property dispute suit, Telangana High Court said that the committee had exceeded its jurisdiction. In doing so the high court reiterated that Lok Adalats, including the MLSC, are meant solely for conciliation...

AIBE Fee Of Rs.3500 Challenged In Telangana High Court

A petition has been filed in the Telangana High Court challenging the fee charged by the Bar Council of India for registering for the All India Bar Examination.For the AIBE-XIX, a general category candidate has to pay Rs.3500 +GST (12.60 INR) + Convenience fee (70 INR).The petitioner, Advocate Vijay Gopal, relied on the recent Supreme Court judgment in Gaurav Kumar v. Union of India which...

Hotel Replacing Damaged Furniture, Carpets Is Current Expenditure Allowable U/S 37 Income Tax Act: Telangana HC

The Telangana High Court has held that the expenditure incurred by a hotel on replacement of damaged items is a current expenditure, allowable under Section 37 of the Income Tax Act, 1961. Section 37 of Income Tax Act states that any business expenditure, excluding capital expenditure and the individual's personal expenses, that is spent for the business's operations shall be...

Telangana High Court Reiterates Limited Scope For Interference With Arbitral Awards U/S 34 Of Arbitration & Conciliation Act, 1996

The Telangana High Court bench comprising Chief Justice Alok Aradhe and Justice J. Sreenivas Rao has held that an interim order passed by an arbitral tribunal under section 17 of the Arbitration and Conciliation Act, 1996, restraining the encashment of a bank guarantee does not warrant interference under section 34 of the Act. The court also held that section 34 does not permit the...

Court U/S 11 Of Arbitration Act Only Checks For Existence Of Agreement, Jurisdictional Questions To Be Decided By Arbitrator: Telangana HC

The Telangana High Court Bench of Chief Justice Alok Aradhe affirmed that Sub-section (1) of Section 16 provides that the Arbitral Tribunal may rule on its own jurisdiction, “including any objections” with respect to the existence or validity of the arbitration agreement. Section 16 is an inclusive provision, which would comprehend all preliminary issues touching upon the...

Parties To Lis Should Not Be Appointed As Receiver Without Consent Of Other Parties: Telangana High Court

The Telangana High Court Bench of Chief Justice Alok Aradhe And Justice J.Sreenivas Rao held that impartiality is an essential attribute of a Receiver. Therefore, normally one of the parties to a lis should not be appointed as Receiver without consent of the other parties unless a very special case is made out. Brief Facts This appeal under Section 37(1)(b) of the Arbitration...

HYDRAA Demolition Drive Following Due Process: State Tells Telangana High Court, No Interim Relief In PIL

The Telangana High Court on Wednesday (October 23) declined to grant interim relief in a public interest litigation (PIL) seeking to restrain the 'Hyderabad Disaster Response and Asset Protection Agency' (HYDRAA)' from demolishing any buildings without following due procedure. The high court did so after noting the State's submission that due process was being followed by the authorities....

S.10(23G) IT Act | Capital Invested To Purchase Shares Of 'Infrastructure Facility' Before June 1998 Can't Be Included In Total Income: Telangana HC

The Telangana High Court has held that the capital expenditure made prior to June 1998, for purchasing shares in any 'infrastructure facility', cannot be included in an assessee's total income. A division bench of Justices Sujoy Paul and Namavarapu Rajeshwar Rao reasoned, “The capital expenditure for purchasing shares falls under the category of infrastructure facilities and...

Telangana HC Permits Producer To Approach MIB For Removal Of Defamatory Content "Posted" By YouTuber Who Is Also Booked For Rape

The Telangana High Court in an interim order permitted a Telugu film producer to approach the Union Ministry of Information and Broadcasting for removal of certain allegedly defamatory content about her on social media. The petitioner has claimed that YouTuber Harsha Sai Kathira in the guise of a script meeting, allegedly sexually assaulted her, recorded the entire incident and went on to...