Rental income valuation requires credible local comparables; family-business salary and commercially expedient unsecured-loan interest remained deduct...
Strict construction of customs exemptions denied concession for brake components, while limitation restricted differential duty to timely Bills of Ent...
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The High Court quashed the criminal proceedings u/s 138 of the Negotiable Instruments Act arising from a complaint case. The petitioners were accused of criminal conspiracy to encash cheques by forging bills despite no material being supplied. The Court held that the cheque issued as security in a financial transaction matures for presentation if not repaid as agreed, leading to consequences u/s 138. The Court found the complaint to be malicious prosecution to shortcut civil proceedings, quashing the entire criminal case. The decision was influenced by a Supreme Court judgment emphasizing the legal consequences of dishonored cheques used as security.
The High Court quashed the criminal proceedings u/s 138 of the Negotiable Instruments Act arising from a complaint case. The petitioners were accused of criminal conspiracy to encash cheques by forging bills despite no material being supplied. The Court held that the cheque issued as security in a financial transaction matures for presentation if not repaid as agreed, leading to consequences u/s 138. The Court found the complaint to be malicious prosecution to shortcut civil proceedings, quashing the entire criminal case. The decision was influenced by a Supreme Court judgment emphasizing the legal consequences of dishonored cheques used as security.
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