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...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
The case involves a petition to quash proceedings u/s 138 of the Negotiable Instruments Act due to failure to implead the company as an accused. The petitioner, a Managing Director, was accused of issuing a cheque on behalf of the company. The court found non-maintainability of the complaint against the petitioner as the company was not made an accused despite the cheque being issued on its behalf. Citing the Himanshu vs. B. Shivamurthy case, the court allowed the petition, quashing the proceedings against the petitioner. The court emphasized the importance of impleading the company in cases involving cheques issued on its behalf. Following the Five Judge Bench of the Supreme Court in expeditious trial of cases, the High Court held that, it is clear that Section 202(2) CrPC is not applicable in the present proceedings which is u/s 138 N.I. Act.
The case involves a petition to quash proceedings u/s 138 of the Negotiable Instruments Act due to failure to implead the company as an accused. The petitioner, a Managing Director, was accused of issuing a cheque on behalf of the company. The court found non-maintainability of the complaint against the petitioner as the company was not made an accused despite the cheque being issued on its behalf. Citing the Himanshu vs. B. Shivamurthy case, the court allowed the petition, quashing the proceedings against the petitioner. The court emphasized the importance of impleading the company in cases involving cheques issued on its behalf. Following the Five Judge Bench of the Supreme Court in expeditious trial of cases, the High Court held that, it is clear that Section 202(2) CrPC is not applicable in the present proceedings which is u/s 138 N.I. Act.
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