Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Dishonour of Cheque - Scope of interim compensation - Liability of the Director the Company - The High Court found that Section 143A does not mandate the imposition of interim compensation but vests a discretionary power in the court. This discretion should consider the specific circumstances of each case, including existing securities and the financial status of the parties. - The Court highlighted that Section 143A explicitly targets the "drawer of the cheque" for interim compensation. Applying this to other associated persons without explicit legislative directive is incorrect. The judgment differentiated the role of a company's directors or signatories from the company itself, the latter being the actual drawer of the cheques. - The High Court set aside the Metropolitan Magistrate’s orders mandating the payment of interim compensation.
Dishonour of Cheque - Scope of interim compensation - Liability of the Director the Company - The High Court found that Section 143A does not mandate the imposition of interim compensation but vests a discretionary power in the court. This discretion should consider the specific circumstances of each case, including existing securities and the financial status of the parties. - The Court highlighted that Section 143A explicitly targets the "drawer of the cheque" for interim compensation. Applying this to other associated persons without explicit legislative directive is incorrect. The judgment differentiated the role of a company's directors or signatories from the company itself, the latter being the actual drawer of the cheques. - The High Court set aside the Metropolitan Magistrate’s orders mandating the payment of interim compensation.
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