Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
HC quashed the criminal complaint against petitioner no. 2 for lack of personal liability, finding no direct involvement in the transaction or cheque issuance. The court held that mere joint account holding does not establish vicarious liability. While maintaining proceedings against petitioner no. 1, the HC determined the complaint constituted an abuse of legal process due to multiplicity of proceedings and non-disclosure of prior cheque transactions. The court exercised its inherent powers under Section 482 Cr.P.C. to prevent procedural abuse and ensure justice, leaving the question of legally enforceable debt to be determined during trial. Petition partially allowed.
HC quashed the criminal complaint against petitioner no. 2 for lack of personal liability, finding no direct involvement in the transaction or cheque issuance. The court held that mere joint account holding does not establish vicarious liability. While maintaining proceedings against petitioner no. 1, the HC determined the complaint constituted an abuse of legal process due to multiplicity of proceedings and non-disclosure of prior cheque transactions. The court exercised its inherent powers under Section 482 Cr.P.C. to prevent procedural abuse and ensure justice, leaving the question of legally enforceable debt to be determined during trial. Petition partially allowed.
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