Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
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The High Court addressed issues regarding dishonour of cheques during insolvency proceedings, vicarious liability of directors, and the application of Section 14 of the IBC Act. It held that Section 14 of the IBC Act applies to corporate debtors, not natural persons, and does not exonerate individuals from criminal liability u/s 138 of the N.I. Act. The court found that the applicants had no knowledge of issuing the cheques, as they had not signed them, and lacked specific status or role in the complaint. Thus, the court allowed the application to quash the complaint u/s 482 of the Criminal Procedure Code to prevent abuse of court process and secure justice.
The High Court addressed issues regarding dishonour of cheques during insolvency proceedings, vicarious liability of directors, and the application of Section 14 of the IBC Act. It held that Section 14 of the IBC Act applies to corporate debtors, not natural persons, and does not exonerate individuals from criminal liability u/s 138 of the N.I. Act. The court found that the applicants had no knowledge of issuing the cheques, as they had not signed them, and lacked specific status or role in the complaint. Thus, the court allowed the application to quash the complaint u/s 482 of the Criminal Procedure Code to prevent abuse of court process and secure justice.
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