Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
Approved resolution plans extinguish unsubmitted pre-approval tax claims, preventing later recovery outside the insolvency process and preserving a cl...
Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Dishonor of cheque - presumption that cheque was issued in discharge of legal liability, burden on accused to prove contrary. Supreme Court observations: While deciding appeal against acquittal, High Court should see if evidence was properly appreciated, finding illegal or affected by error of law/fact, and if trial court's view was possible based on material. Presumption of innocence gets concretized on acquittal, higher threshold to rebut in appeal. Accused did not prove cheque issued as security. Statement of account showed subsisting liability when cheque issued. Blank cheque can be filled by holder if liability exists as per Bir Singh case. Once presumption drawn, onus shifts to accused as per Rohit bhai case. Complaint cannot be dismissed for want of evidence on debt/liability if cheque dishonored for account closed as per Rohit bhai case. Notice deemed served if refused as per C.C. Alavi case. Ingredients of Section 138 satisfied, trial court erred in acquitting accused. Judgment set aside, accused convicted u/s 138.
Dishonor of cheque - presumption that cheque was issued in discharge of legal liability, burden on accused to prove contrary. Supreme Court observations: While deciding appeal against acquittal, High Court should see if evidence was properly appreciated, finding illegal or affected by error of law/fact, and if trial court's view was possible based on material. Presumption of innocence gets concretized on acquittal, higher threshold to rebut in appeal. Accused did not prove cheque issued as security. Statement of account showed subsisting liability when cheque issued. Blank cheque can be filled by holder if liability exists as per Bir Singh case. Once presumption drawn, onus shifts to accused as per Rohit bhai case. Complaint cannot be dismissed for want of evidence on debt/liability if cheque dishonored for account closed as per Rohit bhai case. Notice deemed served if refused as per C.C. Alavi case. Ingredients of Section 138 satisfied, trial court erred in acquitting accused. Judgment set aside, accused convicted u/s 138.
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