Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
The HC upheld the conviction of the revision petitioner for dishonor of cheques, rejecting claims regarding complaint maintainability. The Court distinguished this case from A.C. Narayanan, finding proper authorization existed for filing the complaint as evidenced by corporate resolutions and the Memorandum and Articles of Association. The petitioner's contradictory defenses-claiming cheques were security deposits while also alleging coercion-undermined credibility. The petitioner's reply notice (Ex.P.46) acknowledged receipt of diamond jewelry and requested patience for payment, constituting admission of the transaction. Finding no perversity in the lower courts' findings based on documentary evidence, the HC dismissed the revision petition, concluding the complaint was maintainable and conviction justified under the NI Act.
The HC upheld the conviction of the revision petitioner for dishonor of cheques, rejecting claims regarding complaint maintainability. The Court distinguished this case from A.C. Narayanan, finding proper authorization existed for filing the complaint as evidenced by corporate resolutions and the Memorandum and Articles of Association. The petitioner's contradictory defenses-claiming cheques were security deposits while also alleging coercion-undermined credibility. The petitioner's reply notice (Ex.P.46) acknowledged receipt of diamond jewelry and requested patience for payment, constituting admission of the transaction. Finding no perversity in the lower courts' findings based on documentary evidence, the HC dismissed the revision petition, concluding the complaint was maintainable and conviction justified under the NI Act.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4796
Join Channel
TaxTMI 
