Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
Approved resolution plans extinguish unsubmitted pre-approval tax claims, preventing later recovery outside the insolvency process and preserving a cl...
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...
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A cheque allegedly issued after a company's dissolution cannot support a Section 138 prosecution because the company has already ceased to exist in law and the instrument is void ab initio. The complaint therefore failed on the threshold requirement of a legally enforceable cheque drawn by a subsisting juristic entity, and the Court distinguished cases where dissolution or liquidation occurs after issuance. Vicarious liability under Section 141 also could not be fastened on a former director, as the complaint contained no specific averment that he was in charge of the company's day-to-day affairs at the relevant time. The complaint and proceedings were quashed, with liberty to pursue other remedies in law.
A cheque allegedly issued after a company's dissolution cannot support a Section 138 prosecution because the company has already ceased to exist in law and the instrument is void ab initio. The complaint therefore failed on the threshold requirement of a legally enforceable cheque drawn by a subsisting juristic entity, and the Court distinguished cases where dissolution or liquidation occurs after issuance. Vicarious liability under Section 141 also could not be fastened on a former director, as the complaint contained no specific averment that he was in charge of the company's day-to-day affairs at the relevant time. The complaint and proceedings were quashed, with liberty to pursue other remedies in law.
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