Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
A cheque issued as security in a loan transaction can still attract liability on dishonour if it is presented on default and a legally enforceable debt subsists. The note explains that the presumptions under the Negotiable Instruments Act are rebuttable, but the drawer must raise a probable defence, which may be based on the complainant's own material; absent such defence, the presumption of liability under Section 139 remains intact. It also states that revisional jurisdiction is limited and cannot be used as a second appeal for re-appreciation of evidence. On the facts discussed, the accused admitted the loan, failed to probabilise the security-cheque plea, and no perversity or miscarriage of justice was shown.
A cheque issued as security in a loan transaction can still attract liability on dishonour if it is presented on default and a legally enforceable debt subsists. The note explains that the presumptions under the Negotiable Instruments Act are rebuttable, but the drawer must raise a probable defence, which may be based on the complainant's own material; absent such defence, the presumption of liability under Section 139 remains intact. It also states that revisional jurisdiction is limited and cannot be used as a second appeal for re-appreciation of evidence. On the facts discussed, the accused admitted the loan, failed to probabilise the security-cheque plea, and no perversity or miscarriage of justice was shown.
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