Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Dishonor of cheque - compoundable offence - It can safely be said that when the offence under Section 138 N.I. Act is compounded in accordance with Section 147 N.I. Act, the question of imposition of a sentence on Respondent No.2 does not arise. Section 357(3) Cr.P.C. states that when a Court imposes a sentence, of which fine does not form a part, the Court may order the accused person to pay, by way of compensation any amount that the Court deems fit to the person who has suffered any loss or injury. - HC
Dishonor of cheque - compoundable offence - It can safely be said that when the offence under Section 138 N.I. Act is compounded in accordance with Section 147 N.I. Act, the question of imposition of a sentence on Respondent No.2 does not arise. Section 357(3) Cr.P.C. states that when a Court imposes a sentence, of which fine does not form a part, the Court may order the accused person to pay, by way of compensation any amount that the Court deems fit to the person who has suffered any loss or injury. - HC
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TaxTMI 
TaxTMI 
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