Development agreements require legal possession or effective enjoyment for capital gains transfer; permissive possession and deferred consideration de...
Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
The High Court addressed the issue of dishonour of cheque and compounding of the matter. Referring to a Supreme Court case, it discussed the scope of Section 138 of the Negotiable Instruments Act and compounding under Section 147. The court recognized that proceedings u/s 138 are civil in nature with criminal implications. It noted that once the accused settled the liability, compounding under Section 147 was a genuine step towards justice. The court found that the accused and complainant had resolved the dispute, with the complainant having no further grievances as the accused had fulfilled his liability u/s 138. Consequently, the petition was disposed of.
The High Court addressed the issue of dishonour of cheque and compounding of the matter. Referring to a Supreme Court case, it discussed the scope of Section 138 of the Negotiable Instruments Act and compounding under Section 147. The court recognized that proceedings u/s 138 are civil in nature with criminal implications. It noted that once the accused settled the liability, compounding under Section 147 was a genuine step towards justice. The court found that the accused and complainant had resolved the dispute, with the complainant having no further grievances as the accused had fulfilled his liability u/s 138. Consequently, the petition was disposed of.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
