Business reorganisation requires recognition of successor's modified return; draft orders against dissolved transferor quashed and fresh review direct...
Pre-commencement R&D deduction denied where business had not commenced; deeming benefit requires tangible start of manufacture or commercial exploitat...
Priority of set-off: brought forward business losses must be adjusted before unabsorbed depreciation; procedural safeguards required for invoking rest...
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.
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