Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for res...
Composite inpatient healthcare supply may retain exemption despite MRP medicine billing, while separate taxable sale characterisation remains disputed...
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The High Court considered whether dishonored cheques were given for a legally enforceable debt. The appellant failed to prove the existence of a default by the respondents or that the cheques were for a valid debt. Without meeting the burden u/s 138, the appellant couldn't rely on u/s 139 presumption. The appellant must provide detailed account statements to establish a legally enforceable debt for a successful u/s 138 case. The respondents disputed the debt amount and claimed misuse of security cheques. Without proper evidence, the dishonor of cheques doesn't trigger u/s 138. The court upheld lower courts' decisions as the appellant failed to provide sufficient evidence. The appeal was dismissed.
The High Court considered whether dishonored cheques were given for a legally enforceable debt. The appellant failed to prove the existence of a default by the respondents or that the cheques were for a valid debt. Without meeting the burden u/s 138, the appellant couldn't rely on u/s 139 presumption. The appellant must provide detailed account statements to establish a legally enforceable debt for a successful u/s 138 case. The respondents disputed the debt amount and claimed misuse of security cheques. Without proper evidence, the dishonor of cheques doesn't trigger u/s 138. The court upheld lower courts' decisions as the appellant failed to provide sufficient evidence. The appeal was dismissed.
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