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 HC dismissed an application concerning dishonor of a post-dated cheque under Section 138 of the N.I. Act. The Court held that the proceedings were fatally flawed because the partnership firm (Kishan Construction) was not made a party to the complaint, with only one partner (respondent Kishan Bouri) named as accused. Following precedents in Sarad Kumar Sanghi and Aneeta Hada, the Court emphasized that when a company/firm commits an offense under Section 138, the entity itself must be arraigned as a party before vicarious liability can attach to its partners/directors under Section 141. This defect was deemed incurable as no statutory notice was served on the firm within the prescribed 30-day period.
The HC dismissed an application concerning dishonor of a post-dated cheque under Section 138 of the N.I. Act. The Court held that the proceedings were fatally flawed because the partnership firm (Kishan Construction) was not made a party to the complaint, with only one partner (respondent Kishan Bouri) named as accused. Following precedents in Sarad Kumar Sanghi and Aneeta Hada, the Court emphasized that when a company/firm commits an offense under Section 138, the entity itself must be arraigned as a party before vicarious liability can attach to its partners/directors under Section 141. This defect was deemed incurable as no statutory notice was served on the firm within the prescribed 30-day period.
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