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 seeking leave to appeal against an acquittal in a cheque dishonour case. Despite admitted execution of the cheque, the court found the statutory presumptions under Sections 118(a) and 139 of the NI Act had been properly rebutted by the respondent on a preponderance of probabilities. The respondent successfully established that the cheque was given only as security for a smaller sum (1,65,000) rather than for the full amount. The petitioner failed to demonstrate financial capacity to have advanced the alleged 10 lakh loan, with no supporting documentation or income tax returns reflecting such transaction. Following precedent in Sri Dattatraya v. Sharanappa, the HC found no perversity in the trial court's reasoning warranting interference.
The HC dismissed a petition seeking leave to appeal against an acquittal in a cheque dishonour case. Despite admitted execution of the cheque, the court found the statutory presumptions under Sections 118(a) and 139 of the NI Act had been properly rebutted by the respondent on a preponderance of probabilities. The respondent successfully established that the cheque was given only as security for a smaller sum (1,65,000) rather than for the full amount. The petitioner failed to demonstrate financial capacity to have advanced the alleged 10 lakh loan, with no supporting documentation or income tax returns reflecting such transaction. Following precedent in Sri Dattatraya v. Sharanappa, the HC found no perversity in the trial court's reasoning warranting interference.
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