Karnataka HC Sets Aside Notice Seeking Revision Of ₹27.13 Crore Tax Refund To Myntra Co-Founder Mukesh Bansal

The Karnataka High Court has set aside income tax revision proceedings initiated against entrepreneur and Myntra and Cult. fit co-founder Mukesh Bansal in connection with a refund of over ₹27.13 crore for AY 2019-20.Justice S. Sunil Dutt Yadav held that an intimation issued under Section 143(1) of the Income Tax Act, without any adjustment, could not be treated as an order for exercising revisionary powers under Section 263.Bansal had originally declared a total income of ₹231.73 crore and tax...

Delhi High Court Directs SAP India To Restore Support Services To Nayara Energy Amid EU Sanctions

The Delhi High Court has directed SAP India Private Limited to restore the position that existed before July 24, 2025, and immediately resume enterprise and software support services for Nayara Energy under their agreements. Justice Vikas Mahajan passed the order on Nayara's plea for an interim mandatory injunction after SAP blocked its access to the SAP Support Portal on July 24. SAP's Global Export Control Team later told Nayara that it was covered by EU sanctions and that business with the...

Personal Loans Cannot Be Treated As MSME Borrowings Merely Due To MSME Link: Karnataka High Court

The Karnataka High Court has ruled that personal loans taken by borrowers cannot be treated as MSME borrowings merely because they are connected with an MSME.“The benefit available to an MSME must be considered in relation to the enterprise and the credit facility covered by the framework. Independent personal borrowings do not acquire the character of MSME borrowings merely because the borrowers are also connected with an MSME,” Justice Lalitha Kanneganti observed.The court was dealing with a...

Can State Notifications Let Civil Judges Decide Trademark Cases? Supreme Court Refers To Larger Bench

The Supreme Court on Monday referred to a larger bench the question of whether State notifications notifying Civil Judges (Senior Division) as Commercial Courts can override the Trade Marks Act requirement that infringement suits be instituted before a District Court.The issue arises from Section 134 of the Trade Marks Act, 1999. It bars a suit seeking relief for trademark infringement from being filed before a court below the District Court having jurisdiction to try it. The question is whether...

Vuenow Cloud Storage Investment Case: Punjab & Haryana HC Denies Bail To Founder Sukhwinder Kharour

The Punjab and Haryana High Court has dismissed the regular bail plea of Sukhwinder Singh Kharour, founder and CEO of the Vuenow Group, in a money laundering case linked to the group's alleged “cloud particle” investment model.Justice Sumeet Goel noted a prima facie disparity between the cloud-storage capacity allegedly sold to investors and the actual operational capacity found during searches. The Court also noted prosecution statements indicating that rental payments to earlier investors were...

Lessee Can't Re-Litigate SARFAESI Grievance After Adverse DRT Order: Kerala High Court

The Kerala High Court on 15 September held that a lessee who has already invoked the statutory remedy before the Debt Recovery Tribunal and suffered an adverse order cannot subsequently maintain a civil suit raising the same grievance against proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. Justice Easwaran allowed a petition filed by IFCI Limited and set aside the Sub Court, Nedumangad's order refusing to reject a suit...

Diary Entries At Partner's Premises Insufficient For Additions Without Link To Firm: Gujarat High Court

The Gujarat High Court on 8 September held that diary entries or other material found during survey proceedings cannot, by themselves, justify additions in the hands of a partnership firm when the material was not recovered from the firm's premises and there is no independent evidence linking the transactions recorded in it to the firm. A Bench of Justices Bhargav D. Karia and Pranav Trivedi dismissed the Revenue's appeals against Expert Particle Board and its partner, upholding the orders of...

Supreme Court Issues Notice On Plea Against NCLAT Ruling That Suspended IPs Can't Act In Other CIRPss

The Supreme Court on Monday issued notice on a plea filed by insolvency professional Anshul Gupta challenging the National Company Law Appellate Tribunal's (NCLAT) order holding that an insolvency professional whose registration is suspended cannot continue to act in other ongoing insolvency proceedings. A Bench of Justices Manoj Misra and Vijay Bishnoi, however, did not stay the NCLAT order and directed the appellate tribunal to decide Gupta's appeal in the meantime. "Issue notice, returnable...

Ammonia Storage Tank Integral To Plant Machinery, Can't Be Entirely Taxed As Building: P&H High Court

On 18 September, the Punjab and Haryana High Court held that an ammonia gas storage tank forming an integral part of a manufacturing plant cannot be subjected in its entirety to house tax by treating it as a “building”. A Division Bench of Justices Deepak Sibal and Rupinderjit Chahal passed the ruling while dealing with cross-petitions filed by National Fertilizers Limited (NFL) and the Municipal Council, Nangal over house tax imposed on an ammonia gas storage tank at NFL's fertiliser plant....

State Liquor Regulation Doesn't Bar CCI Probe Into Anti-Competitive Conduct: Madhya Pradesh High Court

The Madhya Pradesh High Court on 17 September held that the State's power to regulate liquor under the Madhya Pradesh Excise Act, 1915 does not conflict with the Competition Commission of India's (CCI) jurisdiction to investigate anti-competitive conduct under the Competition Act, 2002.A Division Bench of Justices Vivek Rusia and Pradeep Mittal dismissed a batch of writ petitions filed by distilleries and bottling units operating in Madhya Pradesh, challenging CCI proceedings, including its...

Maritime Arbitrator's Prior Ruling On Similar Clause Does Not Establish Bias: Delhi High Court

The Delhi High Court on 17 September held that an arbitrator does not become disqualified merely because they previously decided a similar issue in another maritime arbitration involving one of the parties, particularly where specialised maritime disputes draw from a limited pool of domain experts. A Division Bench of Justices Prathiba M. Singh and Vikas Mahajan upheld the arbitral award in favour of UK-based British Marine PLC and dismissed Steel Authority of India Limited's (SAIL) appeal...

Karnataka High Court Quashes Revision Proceedings Over ESOP Tax Treatment After ₹27.13 Cr. Refund

On 18 September, the Karnataka High Court set aside revision proceedings initiated against taxpayer Mukesh Bansal after his revised income tax return for the assessment year 2019-20 resulted in a refund of Rs. 27.13 crore. Justice S. Sunil Dutt Yadav held that an intimation issued under Section 143(1) of the Income Tax Act, without any adjustment, cannot be treated as an “order” for exercising revisionary powers under Section 263 of the Act. The Bench observed: “...The corollary would be that,...