Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
Customs valuation and classification require comparable evidence and assessment of imported goods in their actual condition, invalidating related pena...
Dishonor of cheque due to account being frozen/blocked by order of IT department does not attract liability u/s 138 of Negotiable Instruments Act. For an offense u/s 138, the cheque must be returned unpaid due to insufficient funds or exceeding arranged amount, which was not the case here. Drawing a cheque from an account not maintained by the drawer due to freezing may amount to other offenses but not u/s 138. For an account to be considered maintained, the drawer must be able to operate it by depositing or withdrawing funds and giving instructions to the bank, which was not possible once the account was attached. Complaint for offense u/s 138 quashed as the account was not maintained by the drawer after freezing by IT department's order.
Dishonor of cheque due to account being frozen/blocked by order of IT department does not attract liability u/s 138 of Negotiable Instruments Act. For an offense u/s 138, the cheque must be returned unpaid due to insufficient funds or exceeding arranged amount, which was not the case here. Drawing a cheque from an account not maintained by the drawer due to freezing may amount to other offenses but not u/s 138. For an account to be considered maintained, the drawer must be able to operate it by depositing or withdrawing funds and giving instructions to the bank, which was not possible once the account was attached. Complaint for offense u/s 138 quashed as the account was not maintained by the drawer after freezing by IT department's order.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4796
Join Channel
TaxTMI 
