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 a petition challenging a summoning order in a dishonored cheque case. The Court found the complaint was filed within the limitation period, as the 30-day limitation under Section 142(b) of the NI Act began on December 3, 2019 (following the 15-day notice period), making the January 2, 2020 deadline. While there appeared to be a 3-day delay, the Court noted that such minor delay was condonable under Section 142(b). The Court determined a prima facie case existed against the petitioners based on the respondent's affidavit evidence, which was sufficient under Section 145 of the NI Act for issuing summons. The petitioners' arguments regarding corporate liability were deemed premature and could be raised during trial.
The HC dismissed a petition challenging a summoning order in a dishonored cheque case. The Court found the complaint was filed within the limitation period, as the 30-day limitation under Section 142(b) of the NI Act began on December 3, 2019 (following the 15-day notice period), making the January 2, 2020 deadline. While there appeared to be a 3-day delay, the Court noted that such minor delay was condonable under Section 142(b). The Court determined a prima facie case existed against the petitioners based on the respondent's affidavit evidence, which was sufficient under Section 145 of the NI Act for issuing summons. The petitioners' arguments regarding corporate liability were deemed premature and could be raised during trial.
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