Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
Integrated golf function determines classification, placing launch monitors and simulators under other golf equipment rather than measuring instrument...
Dishonour of Cheque - vicarious liability of directors - After considering the submissions of both parties, the court found that the impugned orders suffered from non-application of mind and lacked sufficient averments to justify the prosecution of the petitioners. It emphasized that liability under Section 141 is not based solely on designation but on the actual role played in the company's affairs. As the complaints failed to provide specific allegations against the petitioners regarding their involvement or negligence, the court held that prosecuting them would amount to an abuse of process.
Dishonour of Cheque - vicarious liability of directors - After considering the submissions of both parties, the court found that the impugned orders suffered from non-application of mind and lacked sufficient averments to justify the prosecution of the petitioners. It emphasized that liability under Section 141 is not based solely on designation but on the actual role played in the company's affairs. As the complaints failed to provide specific allegations against the petitioners regarding their involvement or negligence, the court held that prosecuting them would amount to an abuse of process.
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