Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
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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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