Kerala High Court Dismisses Plea Against CIAL's Decision To Conduct Online AGM, Says Centre Can Exempt Physical Meeting U/S 96 Companies Act

The Kerala High Court recently dismissed a plea challenging the decision of the Cochin International Airport Ltd. (CIAL) to conduct its Annual General Body Meeting (AGM) through online modes.Rejecting the petitioner's contention that the AGM has to be held either at the registered office of the Company or some other place within the city, town or village, Justice N. Nagaresh dismissed the writ petition. According to the petitioner, who was a shareholder of CIAL, such a virtual conduct of AGM was...

Kerala High Court Dismisses Plea Against CIAL's Decision To Conduct Online AGM, Says Centre Can Exempt Physical Meeting U/S 96 Companies Act

The Kerala High Court recently dismissed a plea challenging the decision of the Cochin International Airport Ltd. (CIAL) to conduct its Annual General Body Meeting (AGM) through online modes.Rejecting the petitioner's contention that the AGM has to be held either at the registered office of the Company or some other place within the city, town or village, Justice N. Nagaresh dismissed the writ petition. According to the petitioner, who was a shareholder of CIAL, such a virtual conduct of AGM was...

Revisional Powers U/S 56 KVAT Act Are Limited, Clarificatory Orders Have Only Prospective Effect: Kerala High Court

The Kerala High Court stated that revisional powers under Section 56 of the KVAT Act (Kerala Value Added Tax Act, 2003) are limited, and clarificatory orders only have a prospective effect. Justices A. Muhamed Mustaque and Harisankar V. Menon stated that with reference to the power to issue clarification under Section 94 of the Act, the Commissioner has been empowered to hold that clarificatory orders would only have prospective operation. In other words, the exercise of the power by...

Voluntarily Filed Returns Cannot Be Revised Through Additional Evidence Under Rule 29 ITAT Rules: Kerala High Court

The Kerala High Court held that voluntarily filed returns cannot be revised through additional evidence under Rule 29 of the ITAT Rules (Income Tax (Appellate Tribunal) Rules, 1963). Rule 29 of the Income Tax (Appellate Tribunal) Rules, 1963 permits the Tribunal to admit additional evidence for any substantial cause. Justices A. Muhamed Mustaque and Harisankar V. Menon stated that since returns have been presented by the respective appellants, declaring the respective figures as...

Kerala High Court Orders Bank To Return Loan Defaulter's Pet Cat Stranded Inside Seized House

The Kerala High Court recently passed an interim order directing the State Bank of India to return to the loan defaulter his pet cat, which was trapped inside his house over which the bank had taken possession.The petitioner submitted before Justice Mohammed Nias C.P. that his cat was stuck inside the house, the secured asset, over which the bank had taken possession.In the plea, the petitioner had prayed to stay all loan recovery proceedings against his residence.The Court observed:"In...

Assessments U/S 17D Kerala General Sales Tax Act Must Be Finalised Within Reasonable Time Despite Absence Of Limitation Period: High Court

The Kerala High Court stated that the assessments under Section 17D Kerala General Sales Tax Act must be finalised within a reasonable period despite the absence of a limitation period. Justices A. Muhamed Mustaque and Harisankar V. Menon stated that even when the statute does not provide for an outer time limit, the authority has to exercise jurisdiction within a reasonable time. The reasonable period of time for such assessment has to be fixed with reference to the other provisions...

Market Value Of Property Must Be Determining Factor Under Commercial Courts Act, Not Court Fee Value: Kerala High Court

The Kerala High Court has held that the market value of the property must be the determining factor under Section 12 (1)(c) of the Commercial Courts Act, and not the valuation adopted for the purpose of court fees under the Kerala Court Fees and Suits Valuation Act, 1959.A Full Bench comprising Justice Sathish Ninan, Justice C.S. Dias, and Justice C.S. Sudha delivered the judgement while answering a reference in ICR (CRP) No.11 of 2025, CRP No.133 of 2024, and OP(C) No.753 of 2024.The Court...

Income Tax Act | To Claim Deduction U/S 54F, Assessee Must Show Intention To Repay Borrowed Funds With Capital Gains: Kerala HC

The Kerala High Court stated that to claim the Section 54F deduction under the Income Tax Act, the assessee must satisfy the authorities that borrowed funds were used at their own risk with the intention to be repaid with capital gains. Section 54F of the Income Tax Act, 1961, allows a tax exemption on capital gains earned from selling a residential property, but only if certain rules are followed. Justice Ziyad Rahman A.A. stated that "...even in a case where, the residential...

[Article 226] Writ Courts Can't Command Banks To Not Cancel One Time Settlement Facility Granted To Customers: Kerala High Court

The Kerala High Court has held that a party cannot invoke the writ jurisdiction under Article 226 of the Constitution to seek a direction to a bank not to cancel the OTS (One Time Settlement) facility granted to it.The appellant had approached the Single Bench seeking a writ of mandamus against Indian Overseas Bank not to cancel the OTS facility and to consider favourably their request to extend the timeline granted in the facility. The writ petition was disposed of directing the bank to...

No Violation Of Article 14 In Denying Property Tax Exemption To Unaided Schools: Kerala High Court

The Kerala High Court stated that there is no violation of Article 14 in denying property tax exemption to unaided schools. Justice Ziyad Rahman A.A. stated that the fact that the Government owned, managed and aided schools are established by the Government at their funds in order to provide education to all classes of persons by collecting nil or meagre fees, is a crucial factor which distinguishes such establishments from an unaided school, where fees is collected from the students...

No KVAT Levy On Advertisement Hoardings Where Right To Use Has Not Been Transferred: Kerala High Court

The Kerala High Court has held that transactions involving the display of advertisements on hoardings are not taxable under the Kerala Value Added Tax Act (KVAT), where the right to use has not been transferred. Justice Ziyad Rahman A.A. agreed with the assessee that the charges collected by the assessee for displaying the advertisement included the charges for erection, printing and maintenance, etc. Thus, the responsibility to maintain the hoarding was with respect to the...

DRT Cannot Reject Consolidated Plea By Tenants Under SARFAESI Act: Kerala High Court

The Kerala High Court has held that the Debts Recovery Tribunal (DRT) cannot reject a consolidated plea by tenants under the SARFAESI Act.The petition was filed, challenging an order passed by the registrar of the DRT 1, Ernakulam. By that order, it declined to register the application preferred by the petitioners against the notice of dispossession served by the Advocate Commissioner. The application was rejected, citing the reason that a consolidated securitisation application was filed...