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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HC upheld acquittal in cheque dishonor case under Section 138 of NI Act. While respondents admitted signing cheques, they successfully rebutted statutory presumptions under Sections 118 and 139 through preponderance of probability. Petitioner's evidence, including unverified computer-generated account statements lacking company authentication, failed to establish the alleged debt of INR 1.10 Crores. The court found that without proving the principal liability, claims for returns or interest were untenable. Key factor was petitioner's inability to discharge shifted burden of proof regarding existence of investment/loan after respondents established probable defense. Trial court's acquittal order maintained as respondents effectively negated existence of legally enforceable debt.
HC upheld acquittal in cheque dishonor case under Section 138 of NI Act. While respondents admitted signing cheques, they successfully rebutted statutory presumptions under Sections 118 and 139 through preponderance of probability. Petitioner's evidence, including unverified computer-generated account statements lacking company authentication, failed to establish the alleged debt of INR 1.10 Crores. The court found that without proving the principal liability, claims for returns or interest were untenable. Key factor was petitioner's inability to discharge shifted burden of proof regarding existence of investment/loan after respondents established probable defense. Trial court's acquittal order maintained as respondents effectively negated existence of legally enforceable debt.
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