Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
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Cash Credit Accounts cannot be attached u/s 226(3) of the Act as there is no relationship of 'debtor and creditor' between the bank and the customer. In a Cash Credit facility, the bank provides an overdraft limit for the customer to utilize, and interest is charged on the amount utilized. The bank does not hold any money belonging to the customer, nor does it owe any debt to the customer. The Cash Credit limit is merely a facility extended by the bank, and the amount cannot be attached as the bank is not a 'debtor' to the customer. The orders of attachment passed by the authorities are beyond the powers conferred u/s 226(3) and are liable to be quashed.
Cash Credit Accounts cannot be attached u/s 226(3) of the Act as there is no relationship of 'debtor and creditor' between the bank and the customer. In a Cash Credit facility, the bank provides an overdraft limit for the customer to utilize, and interest is charged on the amount utilized. The bank does not hold any money belonging to the customer, nor does it owe any debt to the customer. The Cash Credit limit is merely a facility extended by the bank, and the amount cannot be attached as the bank is not a 'debtor' to the customer. The orders of attachment passed by the authorities are beyond the powers conferred u/s 226(3) and are liable to be quashed.
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