Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
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.
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