Transfer pricing requires evidence for AMP transactions, functionally reliable comparables, and appropriate aggregation or Berry Ratio benchmarking me...
Revisionary jurisdiction cannot reopen share capital assessments where adequate inquiry supports a permissible view and no independent error is establ...
Reassessment jurisdiction fails where unverified portal information is aggregated without examining the taxpayer's explanation or relevance of entries...
Statutory sanction for delayed reassessment requires approval from the prescribed authority; approval by an inferior authority invalidates jurisdictio...
Transfer pricing margin adjustments require matching treatment of non-operating income and related costs, with comparability issues reconsidered on ev...
Preliminary-expense amortisation and MAT exempt-income adjustments prevailed, while trademark costs and managerial remuneration require fresh verifica...
Export valuation requires contemporaneous evidence; unrelated invoices cannot prove overvaluation, and dual penalties on firm and partner are impermis...
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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