Penny-stock additions require transaction-specific evidence; general investigation material alone cannot establish undisclosed income or accommodation...
Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
Dishonor of Cheque - Ascertaining nature of transaction - whether a criminal proceeding can be initiated and an accused held guilty when there is already a civil court decree concerning the same transaction - The Supreme Court acknowledges the conflicting nature of civil and criminal proceedings concerning the same issue and transaction. However, it emphasizes that the standard of proof and burden of evidence in civil and criminal cases are different. - the Supreme Court clarifies that while civil court decisions may have persuasive value, they are not binding on criminal courts, except for limited purposes such as sentence or damages. - the Supreme Court concludes that the criminal proceedings, including the conviction and damages imposed by lower courts, are unsustainable. It asserts that the criminal court must abide by the civil court's declaration regarding the nature of the cheque involved.
Dishonor of Cheque - Ascertaining nature of transaction - whether a criminal proceeding can be initiated and an accused held guilty when there is already a civil court decree concerning the same transaction - The Supreme Court acknowledges the conflicting nature of civil and criminal proceedings concerning the same issue and transaction. However, it emphasizes that the standard of proof and burden of evidence in civil and criminal cases are different. - the Supreme Court clarifies that while civil court decisions may have persuasive value, they are not binding on criminal courts, except for limited purposes such as sentence or damages. - the Supreme Court concludes that the criminal proceedings, including the conviction and damages imposed by lower courts, are unsustainable. It asserts that the criminal court must abide by the civil court's declaration regarding the nature of the cheque involved.
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