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...
The petitioner contended that the dishonored cheques were not issued against any legally enforceable debt, claiming they were given as blank security cheques to one Vinod Tiwari for a loan. However, the petitioner failed to substantiate this claim through evidence or cross-examination of the respondent. Merely reiterating contentions without adducing material to show the loan existed with Vinod Tiwari was insufficient to dislodge the presumptions raised u/ss 118 and 139 of the Negotiable Instruments Act. The High Court found no infirmity in the impugned order, as the petitioner failed to rebut the presumptions, and dismissed the petition, exercising restraint from reappreciating evidence unless the order was wholly unreasonable or untenable.
The petitioner contended that the dishonored cheques were not issued against any legally enforceable debt, claiming they were given as blank security cheques to one Vinod Tiwari for a loan. However, the petitioner failed to substantiate this claim through evidence or cross-examination of the respondent. Merely reiterating contentions without adducing material to show the loan existed with Vinod Tiwari was insufficient to dislodge the presumptions raised u/ss 118 and 139 of the Negotiable Instruments Act. The High Court found no infirmity in the impugned order, as the petitioner failed to rebut the presumptions, and dismissed the petition, exercising restraint from reappreciating evidence unless the order was wholly unreasonable or untenable.
Note: It is a system-generated summary and is for quick reference only.