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 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.
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