Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
The High Court upheld conviction u/s 138 of the Negotiable Instruments Act, as presumption u/s 139 favored the complainant. Petitioner's personal cheque dishonored, complying with Act's provisions. Trial and Appellate Court's findings affirmed. However, sentencing of Rs. 1,00,000 compensation or 12 months' imprisonment not in line with law. Citing Krishan Gupta case, compensation not part of sentence but additional to it. HC modified the sentence to align with law, requiring payment within 30 days or face 12-month imprisonment. Application disposed of.
The High Court upheld conviction u/s 138 of the Negotiable Instruments Act, as presumption u/s 139 favored the complainant. Petitioner's personal cheque dishonored, complying with Act's provisions. Trial and Appellate Court's findings affirmed. However, sentencing of Rs. 1,00,000 compensation or 12 months' imprisonment not in line with law. Citing Krishan Gupta case, compensation not part of sentence but additional to it. HC modified the sentence to align with law, requiring payment within 30 days or face 12-month imprisonment. Application disposed of.
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