A will is valid if it fulfils the statutory requirements of sections 63 and 68 of the Indian Succession Act, 1925 and it is proved that (a) the testator signed the Will out of his own free Will, (b) at the time of execution he had a sound state of mind, (c) he was aware of the nature and effect thereof and (d) the Will was not executed under any suspicious circumstances.
| Posted on: September 24, 2023 |
(a) A Court sitting in second appellate jurisdiction has to frame substantial question of law at the time of admission, save and except in exceptional circumstances. Post such framing of questions the Court shall proceed to hear the parties on such questions, i.e., after giving them adequate time to meet and address them. It is only after such hearing subsequent to the framing that a second appeal shall come to be decided. (b) In ordinary course, the High Court in such jurisdiction does not interfere with finding of fact, however, if it does find any compelling reason to do so as regard in law, it can do but only after perusing the records of the Trial Court, on analysis of which the conclusion arrived at by such a Court is sought to be upturned. In other words, when overturning findings of fact, the Court will be required to call for the records of the Trial Court or if placed on record, peruse the same and only then question the veracity of the conclusions drawn by the Court below
| Posted on: September 23, 2023 |
A corporation is virtually in the same position as any individual and may be convicted of common law as well as statutory offenses including those requiring mens rea. The criminal liability of a corporation would arise when an offense is committed in relation to the business of the corporation by a person or body of persons in control of its affairs. In such circumstances, it would be necessary to ascertain that the degree and control of the person or body of persons is so intense that a corporation may be said to think and act through the person or the body of persons
| Posted on: September 17, 2023 |
The principle of mutuality is rooted in common sense. A person cannot make a profit from herself. This implies that a person cannot earn profit from an association that he shares a common identity with. The essence of the principle lies in the commonality of the contributors and the participants who are also beneficiaries. There has to be a complete identity between the contributors and the participants. Therefore, it follows, that any surplus in the common fund shall not constitute income but will only be an increase in the common fund meant to meet sudden eventualities
| Posted on: September 8, 2023 |
Though the concept of finality of judgment has to be preserved, at the same time, the principle of ex debito justitiae cannot be given a gobye. If the Court finds that the earlier judgment does not lay down a correct position of law, it is always permissible for the Court to reconsider the same and if necessary, to refer it to a larger Bench
| Posted on: October 1, 2022 |
The CBDT has issued a Notification dated 26 September 222 by which it has stipulated the Guidelines for compulsory selection of returns for Complete Scrutiny during the Financial Year 2022-23. The Notification sets out the detailed procedure for compulsory selection in such cases
| Posted on: September 28, 2022 |
The benefit of exemption under section 11 cannot be denied to the entire income of the charitable trust but should be restricted only to the extent of income diverted in breach of Section 13 of the Act
| Posted on: September 20, 2022 |
In conformity with the Government’s policy of facilitating Ease of Doing Business and decriminalisation of offences, CBDT has taken steps in this direction and issued revised Guidelines for Compounding of offences under the Income-tax Act, 1961(the ‘Act’) dated 16.09.2022 with reference to various offences covered under the prosecution provisions of the Act.
| Posted on: September 18, 2022 |
Legal representatives cannot say that they are not covered by the definition of “borrower” because Section 2(2) of the SARFAESI Act provides a reference that the definition and expressions under the Transfer of Property Act are expressly applicable, and a “borrower” being admittedly the mortgager, his liability under the SARFAESI Act cannot be said to have been wiped off on account of his death and his legal representatives are equally bound and stand covered by the definition of the “borrower” under the SARFAESI Act
| Posted on: September 11, 2022 |
It is not for the court to question the judiciousness of the decision taken by the Liquidator with the idea of enhancing the value of the assets of the Corporate Debtor being put up for sale. The right to refuse the highest bid or completely abandon or cancel the bidding process was available to the Liquidator unless it is shown that process was a malafide exercise
| Posted on: September 11, 2022 |