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...
Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
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SC upheld the conviction of the accused-respondent for dishonoring a cheque under Section 138 of the Negotiable Instruments Act. The Court found substantial evidence establishing a valid loan transaction, including cheque payments and the accused's failure to rebut the presumption of liability. The High Court's contrary findings were deemed perverse and set aside. The SC restored the lower courts' judgments, sentencing the accused-respondent to a fine of Rs. 16,00,000 or nine months' simple imprisonment in default, with the fine to be paid to the complainant's legal heirs within three months.
SC upheld the conviction of the accused-respondent for dishonoring a cheque under Section 138 of the Negotiable Instruments Act. The Court found substantial evidence establishing a valid loan transaction, including cheque payments and the accused's failure to rebut the presumption of liability. The High Court's contrary findings were deemed perverse and set aside. The SC restored the lower courts' judgments, sentencing the accused-respondent to a fine of Rs. 16,00,000 or nine months' simple imprisonment in default, with the fine to be paid to the complainant's legal heirs within three months.
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