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...
Integrated golf function determines classification, placing launch monitors and simulators under other golf equipment rather than measuring instrument...
The court held that once a Magistrate takes cognizance and issues process against the accused, there is no provision in the Code of Criminal Procedure to allow the Magistrate to drop the proceedings at the behest of the accused. The revisional court's finding that the trial court wrongly dismissed the application for dropping proceedings was contrary to law. Regarding dishonor of a cheque due to 'account frozen', the court ruled that the complaint u/s 138 of the Act is maintainable even if the cheque is dishonored for this reason. The onus is on the accused to prove they were unaware of the account freeze, the freeze was beyond their control, and the account had sufficient balance when the cheque was issued. The revisional court's order was set aside, the trial court's order was restored, and the matter was remanded for a full-fledged trial.
The court held that once a Magistrate takes cognizance and issues process against the accused, there is no provision in the Code of Criminal Procedure to allow the Magistrate to drop the proceedings at the behest of the accused. The revisional court's finding that the trial court wrongly dismissed the application for dropping proceedings was contrary to law. Regarding dishonor of a cheque due to 'account frozen', the court ruled that the complaint u/s 138 of the Act is maintainable even if the cheque is dishonored for this reason. The onus is on the accused to prove they were unaware of the account freeze, the freeze was beyond their control, and the account had sufficient balance when the cheque was issued. The revisional court's order was set aside, the trial court's order was restored, and the matter was remanded for a full-fledged trial.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4794
Join Channel
TaxTMI 
