Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
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The High Court acquitted the accused u/s 255(1) Cr.P.C due to failure to prove the cheque was issued to discharge a debt. The complainant's evidence was unreliable, and the accused's version was deemed more probable. The Supreme Court held in M.S.Narayana Menon v. State of Kerala that if material consistent with the accused's innocence is presented, even if not conclusively proven, acquittal is warranted. The standard of proof to rebut statutory presumptions u/s 118 and 139 of NI Act is preponderance of probabilities, not beyond reasonable doubt. In this case, as no evidence showed the cheque was for a legally enforceable debt, the accused successfully rebutted the presumption. The appeal was dismissed.
The High Court acquitted the accused u/s 255(1) Cr.P.C due to failure to prove the cheque was issued to discharge a debt. The complainant's evidence was unreliable, and the accused's version was deemed more probable. The Supreme Court held in M.S.Narayana Menon v. State of Kerala that if material consistent with the accused's innocence is presented, even if not conclusively proven, acquittal is warranted. The standard of proof to rebut statutory presumptions u/s 118 and 139 of NI Act is preponderance of probabilities, not beyond reasonable doubt. In this case, as no evidence showed the cheque was for a legally enforceable debt, the accused successfully rebutted the presumption. The appeal was dismissed.
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