Concessional corporate tax option under section 115BAA survives procedural documentary lapses when statutory compliance and earlier exercise are estab...
Penny-stock additions require transaction-specific evidence; general investigation material alone cannot establish undisclosed income or accommodation...
Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
Dishonour of cheque constituted legally recoverable debt. Petitioner convicted u/s 138 Negotiable Instruments Act. Complainant's witness, though SPA holder, competent to depose on known facts. Presumption u/s 139 NI Act favoured complainant upon admission of signatures. Onus on petitioner to rebut presumption by proving cheque not issued for legally recoverable debt, which petitioner failed. Petitioner rightly convicted and sentenced by ASJ. HC dismissed revision petition, finding no infirmity in ASJ's judgment.
Dishonour of cheque constituted legally recoverable debt. Petitioner convicted u/s 138 Negotiable Instruments Act. Complainant's witness, though SPA holder, competent to depose on known facts. Presumption u/s 139 NI Act favoured complainant upon admission of signatures. Onus on petitioner to rebut presumption by proving cheque not issued for legally recoverable debt, which petitioner failed. Petitioner rightly convicted and sentenced by ASJ. HC dismissed revision petition, finding no infirmity in ASJ's judgment.
Note: It is a system-generated summary and is for quick reference only.