01 Apr 2017
SC TO CENTRE: FRAME NEW MEDIA POLICY WITHIN SIX WEEKS
1) SC TO CENTRE: FRAME NEW MEDIA POLICY WITHIN SIX WEEKS
Supreme Court has directed Centre to frame fresh media briefing policy for probing agencies to guard against prejudicing an accused and violating the rights of a complainant or victim in criminal cases.
2) SUPREME COURT: COMPANIES CANNOT CLAIM 'PREMIUM' RECEIVED ON SHARES AS 'DEDUCTION'
Supreme Court has held that premium collected by companies on its subscribed share capital does not come within the ambit of “capital employed in business of company” as given under section 35D of Income Tax Act, 1961 and hence a company cannot claim “premium” received on shares as deduction.
3) SC: HC HAS NO JURISDICTION TO DECIDE UPON UNFRAMED QUESTION OF LAW DURING SECOND APPEAL
Supreme Court, while setting aside a High Court judgment, which suo moto applied a provision of law while deciding a second appeal, has reiterated that High Court has no jurisdiction to decide on a second appeal on a question which is not framed as required under Section 100(4) of CPC.
?4) DELHI HC IN BT COTTON PATENT CASE: MONSANTO TERMINATION OF NUZIVEEDU SEEDS SUB-LICENCE PACT ILLEGAL
Delhi High Court, while ruling that Monsanto Technology LLC’s termination of its sub- licence agreement with Nuziveedu Seeds Ltd was illegal and arbitrary, has said the royalty or trait fee payable for use of Monsanto’s patented Bt cotton technology would be as per Government stipulations.