Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
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Settlement in a cheque dishonor case u/s 138 NI Act recorded by the court after satisfying its voluntariness is legally binding. Upon breach, the court must initiate recovery proceedings u/s 421 read with Section 431 CrPC, treating the settlement amount as a fine. Referring the matter to mediation is not mandatory for court-recorded settlement. The impugned order setting aside the settlement was incorrect as the settlement was voluntary and received court's approval. The High Court directed the trial court to proceed with recovery of the settlement amount upon the accused's default.
Settlement in a cheque dishonor case u/s 138 NI Act recorded by the court after satisfying its voluntariness is legally binding. Upon breach, the court must initiate recovery proceedings u/s 421 read with Section 431 CrPC, treating the settlement amount as a fine. Referring the matter to mediation is not mandatory for court-recorded settlement. The impugned order setting aside the settlement was incorrect as the settlement was voluntary and received court's approval. The High Court directed the trial court to proceed with recovery of the settlement amount upon the accused's default.
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