Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
Customs valuation and classification require comparable evidence and assessment of imported goods in their actual condition, invalidating related pena...
Vicarious liability under Section 141 of the Negotiable Instruments Act requires person-specific foundational averments showing how an accused was in charge of and responsible for the conduct of the company or entity's affairs. A complaint cannot proceed on designation alone. The Court found sufficient prima facie material against respondents 1, 2 and 4 because the complaint and documents linked them to the underlying borrowing and execution of the MoU, cheque and promissory notes, justifying continuation of prosecution. As to respondent 3, only a general assertion based on his status as Executive Member was made, with no specific factual nexus to the dishonoured cheque transaction, so quashing was upheld for him.
Vicarious liability under Section 141 of the Negotiable Instruments Act requires person-specific foundational averments showing how an accused was in charge of and responsible for the conduct of the company or entity's affairs. A complaint cannot proceed on designation alone. The Court found sufficient prima facie material against respondents 1, 2 and 4 because the complaint and documents linked them to the underlying borrowing and execution of the MoU, cheque and promissory notes, justifying continuation of prosecution. As to respondent 3, only a general assertion based on his status as Executive Member was made, with no specific factual nexus to the dishonoured cheque transaction, so quashing was upheld for him.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4809 
Join Channel 
