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 Income Tax Addition Made Towards Unsubstantiated Share Capital Is Eligible For Section 80-IC Deduction: Delhi High Court

Courts' stance will affect Italy's petition
May, 01st 2012

The stand taken by the Supreme Court and the Kerala high court that the compensation agreement in the Enrica Lexie compensation case is a mockery of Indian judicial system, will have an adverse bearing on the outcome of Italy's petition seeking quashing of the FIR against its marines.

Italy has filed two petitions seeking the release of the marines, who have been accused of shooting dead two Indian fishermen off the Kollam coast on February 15. While the judgement on the petition pending in the high court is expected any day, a similar petition, filed through a different legal process, is now being heard by the apex court.

According to former director general of prosecution P G Thampi, the case is ruined beyond salvation. "The remaining trial would be a mockery. While it's not known whether the state government's stance, that the agreement won't affect the criminal case, was on purpose or suicidal, the case is gone. The government should have opposed the agreement seriously," he said.

However, senior counsel K Ramakumar pointed out that the court could take a tough attitude that the agreement is not binding on the criminal case.

However, according to him, the agreement is definitely beneficial to the dependents, as normally civil suits would have to be fought for at least 10 years to get any result.

"It's definitely beneficial to victims. The only doubt is regarding its legality and propriety," he said.

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