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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The petitioner issued two post-dated cheques bearing No. 622623 for Rs. 93,00,000/- and No. 622624 for Rs. 1,54,00,000/- to the respondent as per a Deed of Undertaking. The Deed stipulated that the petitioner would clear GST of Rs. 9,63,00,000/- for a firm, out of which 10% (Rs. 33,00,000/-) would be paid to the respondent. If the GST rate was 2%, the amount payable would be Rs. 1,54,00,000/-. The cheques were issued subject to fulfillment of certain conditions. The High Court held that such a stipulation regarding issuance of cheques could be valid. It found no ground to quash the complaint u/s 138 of the Negotiable Instruments Act or the cognizance taken by the Judicial Magistrate. The issues raised appeared to be matters for trial. The High Court rejected the petition invoking inherent powers for quashing, holding that no case for quashing was made out.
The petitioner issued two post-dated cheques bearing No. 622623 for Rs. 93,00,000/- and No. 622624 for Rs. 1,54,00,000/- to the respondent as per a Deed of Undertaking. The Deed stipulated that the petitioner would clear GST of Rs. 9,63,00,000/- for a firm, out of which 10% (Rs. 33,00,000/-) would be paid to the respondent. If the GST rate was 2%, the amount payable would be Rs. 1,54,00,000/-. The cheques were issued subject to fulfillment of certain conditions. The High Court held that such a stipulation regarding issuance of cheques could be valid. It found no ground to quash the complaint u/s 138 of the Negotiable Instruments Act or the cognizance taken by the Judicial Magistrate. The issues raised appeared to be matters for trial. The High Court rejected the petition invoking inherent powers for quashing, holding that no case for quashing was made out.
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