Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
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Dishonor of Cheque - drawer of cheque - Vicarious liability - From the bare reading of Section 138 of the N.I. Act, it transpires that the liability of the drawer of the Cheque, who has issued the Cheque from the joint account maintained by him and his wife, does not specifically bear any implication to make the wife equally liable when the Cheque was drawn by her husband, and therefore, no vicarious liability can be fastened on the holder of a joint account, by a mere fact that the dishonoured cheque was issued by the drawer of such a cheque from the same bank account. - HC
Dishonor of Cheque - drawer of cheque - Vicarious liability - From the bare reading of Section 138 of the N.I. Act, it transpires that the liability of the drawer of the Cheque, who has issued the Cheque from the joint account maintained by him and his wife, does not specifically bear any implication to make the wife equally liable when the Cheque was drawn by her husband, and therefore, no vicarious liability can be fastened on the holder of a joint account, by a mere fact that the dishonoured cheque was issued by the drawer of such a cheque from the same bank account. - HC
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