Captive power transfer pricing and non-resident export commission rules support deletion of adjustments and withholding disallowance in discussed proc...
Cooperative society deposits, member-interest TDS exemption and credit-facility deduction claims require verification through records and supporting e...
Customs jurisdiction over EPCG condition breaches survives export-obligation discharge certificates, requiring alleged fraud and misdeclaration to be ...
The court held that the determination of whether cheques were issued for a legally enforceable debt or other liability should be made at trial, not at the initial stage. The court emphasized that the purpose of the NI Act is to promote the use of cheques in business transactions and that the term "debt or other liability" includes both legally enforceable debts and other liabilities. The court noted that the issue of whether a debt is time-barred or legally enforceable, as well as other related matters, should be addressed during trial proceedings. The court declined to dismiss the complaint at that stage and directed the Trial Court to proceed with the case according to the law.
The court held that the determination of whether cheques were issued for a legally enforceable debt or other liability should be made at trial, not at the initial stage. The court emphasized that the purpose of the NI Act is to promote the use of cheques in business transactions and that the term "debt or other liability" includes both legally enforceable debts and other liabilities. The court noted that the issue of whether a debt is time-barred or legally enforceable, as well as other related matters, should be addressed during trial proceedings. The court declined to dismiss the complaint at that stage and directed the Trial Court to proceed with the case according to the law.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4803
Join Channel
TaxTMI 
