CENVAT credit for trading requires reversal, while taxable-service rental credit remains proportionately available and limitation issues await resolut...
Vicarious liability for dishonoured company cheques may extend to non-signatory directors where complaints contain foundational responsibility avermen...
Charitable registration turns on predominant purpose and genuine activities, while incidental fees and related-party rent require supporting adverse m...
MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory c...
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HC upheld conviction for dishonour of security cheques under Section 138 of NI Act. The accused issued cheques to repay a loan, which were dishonoured with "insufficient funds" endorsement. The court confirmed that security cheques attract liability for offence. Complainant proved service of legal notice, and accused failed to rebut presumptions under Sections 118(a), 139, and 146 of NI Act. All statutory ingredients were satisfied, warranting six-month imprisonment and compensation of Rs. 15,60,000. The appellate court's decision was deemed appropriate, with no excessive sentencing. Petition dismissed.
HC upheld conviction for dishonour of security cheques under Section 138 of NI Act. The accused issued cheques to repay a loan, which were dishonoured with "insufficient funds" endorsement. The court confirmed that security cheques attract liability for offence. Complainant proved service of legal notice, and accused failed to rebut presumptions under Sections 118(a), 139, and 146 of NI Act. All statutory ingredients were satisfied, warranting six-month imprisonment and compensation of Rs. 15,60,000. The appellate court's decision was deemed appropriate, with no excessive sentencing. Petition dismissed.
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