Online bond platforms may offer overseas-regulated products and tax-specific bonds subject to disclosures, compliance safeguards and revised complianc...
Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
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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