DOS shows volume labels as part of the DIR command. I've been interested in seeing if DOSBox could show them that way as well, so I poked at the 0.74 source code a bit and added/changed the following:

shell_cmds.cpp:

/* Command uses dta so set it to our internal dta */ RealPt save_dta=dos.dta(); dos.dta(dos.tables.tempdta); DOS_DTA dta(dos. […]
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/* Command uses dta so set it to our internal dta */
RealPt save_dta=dos.dta();
dos.dta(dos.tables.tempdta);
DOS_DTA dta(dos.dta());
bool ret=DOS_FindFirst(args,0xffff);// & ~DOS_ATTR_VOLUME);
if (!ret) {
if (!optB) WriteOut(MSG_Get("SHELL_CMD_FILE_NOT_FOUND"),args);
dos.dta(save_dta);
return;
}

do { /* File name and extension */
char name[DOS_NAMELENGTH_ASCII];Bit32u size;Bit16u date;Bit16u time;Bit8u attr;
dta.GetResult(name,size,date,time,attr);

if(attr&DOS_ATTR_VOLUME) {
if(!optB) {
if(strlen(name) > 0) {
WriteOut(MSG_Get("SHELL_CMD_DIR_LABEL"), path[0], name);
} else {
WriteOut(MSG_Get("SHELL_CMD_DIR_NOLABEL"), path[0]);
}
}
continue;
}

/* Skip non-directories if option AD is present */
if(optAD && !(attr&DOS_ATTR_DIRECTORY) ) continue;

shell.cpp:

MSG_Add("SHELL_CMD_DIR_INTRO","Directory of %s.\n"); MSG_Add("SHELL_CMD_DIR_LABEL","Volume in drive %c is %s.\n"); MSG_Add("SH […]
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MSG_Add("SHELL_CMD_DIR_INTRO","Directory of %s.\n");
MSG_Add("SHELL_CMD_DIR_LABEL","Volume in drive %c is %s.\n");
MSG_Add("SHELL_CMD_DIR_NOLABEL","Volume in drive %c has no label.\n");
MSG_Add("SHELL_CMD_DIR_BYTES_USED","%5d File(s) %17s Bytes.\n");

It sort of works as a hack, but there are a lot of issues:
- Volume label is output after pathname, while in real DOS it's the other way around.
- Label is shown for directories MOUNTed with no parameters or with -t floppy, but not -t cdrom.
- Label is shown for IMGMOUNTed CD-ROM image files, but seems to be displayed as an 8.3 filename.
- Label is not shown for IMGMOUNTed floppy images.

On a somewhat unrelated note, it seems weird that IMGMOUNT takes a -label argument in conjunction with -t iso, but when you try to use -label with -t floppy you get a nonsensical "Image file not found." message from DOSBox.