Third-party search material requires special assessment route, rendering general reassessment notices without jurisdiction when it forms the proceedin...
Transfer-pricing adjustments must be confined to international associated-enterprise transactions, while functionally dissimilar comparables remain ex...
Insolvency moratorium bars income-tax revision proceedings against corporate debtors until the moratorium ends, preserving merits for later determinat...
The case involved a dispute regarding the dishonour of cheques, with the key issue being whether the Respondent had a legal obligation to pay back the money under the cheques. The Appellate Court considered the scope of interference in a judgment acquitting the accused and the statutory presumptions u/ss 138 and 139 of the NI Act. The Respondent admitted executing promissory notes and cheques which were later dishonoured. The Court noted that the presumption u/s 139 could be rebutted by the accused with a defense based on a preponderance of probabilities. The Respondent successfully rebutted the presumption by raising doubts about the Petitioner's claims, shifting the burden of proof. The Petitioner failed to discharge this burden, leading to the Respondent's acquittal u/s 138 of the NI Act. The petition seeking leave to appeal was dismissed by the High Court.
The case involved a dispute regarding the dishonour of cheques, with the key issue being whether the Respondent had a legal obligation to pay back the money under the cheques. The Appellate Court considered the scope of interference in a judgment acquitting the accused and the statutory presumptions u/ss 138 and 139 of the NI Act. The Respondent admitted executing promissory notes and cheques which were later dishonoured. The Court noted that the presumption u/s 139 could be rebutted by the accused with a defense based on a preponderance of probabilities. The Respondent successfully rebutted the presumption by raising doubts about the Petitioner's claims, shifting the burden of proof. The Petitioner failed to discharge this burden, leading to the Respondent's acquittal u/s 138 of the NI Act. The petition seeking leave to appeal was dismissed by the High Court.
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TaxTMI 
TaxTMI 
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