Transfer pricing comparables and adjustments: Tribunal revisits loss-maker status, segmental comparability, working capital relief, and risk allocatio...
Business expenditure disallowance failed where commission, related-party salary and promotion payments were supported by records and inquiry was inade...
Revisional jurisdiction in cheque-dishonour matters remains confined to correcting patent defects, jurisdictional error, perversity, or findings based on no evidence, so concurrent findings are not disturbed on a mere request for fresh appreciation of evidence. Where issuance of the cheque and dishonour are admitted, presumptions under Sections 118(a) and 139 operate in favour of consideration and legally enforceable liability; a bare security-cheque plea, unsupported by defence evidence, does not rebut them. Objections based on cash loan treatment, non-disclosure in tax returns, or lack of independent documents do not by themselves defeat the prosecution. Compensation in such cases serves a restitutive purpose, and imprisonment and compensation may both be sustained.
Revisional jurisdiction in cheque-dishonour matters remains confined to correcting patent defects, jurisdictional error, perversity, or findings based on no evidence, so concurrent findings are not disturbed on a mere request for fresh appreciation of evidence. Where issuance of the cheque and dishonour are admitted, presumptions under Sections 118(a) and 139 operate in favour of consideration and legally enforceable liability; a bare security-cheque plea, unsupported by defence evidence, does not rebut them. Objections based on cash loan treatment, non-disclosure in tax returns, or lack of independent documents do not by themselves defeat the prosecution. Compensation in such cases serves a restitutive purpose, and imprisonment and compensation may both be sustained.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4807 
Join Channel 
