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...
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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 criminal appeal under Section 138 of the Negotiable Instruments Act, confirming the accused's acquittal. The complainant alleged dishonour of a cheque issued for losses under a terminated MOU between partnership firms. The HC found the statutory presumption of legally enforceable debt was successfully rebutted by the accused, who demonstrated the cheque was obtained under coercion. The MOU lacked provisions for loss calculation, contained no arbitration clause, and was unilaterally terminated. The complainant failed to prove actual loss, its quantification, or proper assessment. The accused's cross-examination of witnesses and documentary evidence established the cheque was not issued in discharge of any legally enforceable liability, warranting dismissal of charges.
The HC dismissed a criminal appeal under Section 138 of the Negotiable Instruments Act, confirming the accused's acquittal. The complainant alleged dishonour of a cheque issued for losses under a terminated MOU between partnership firms. The HC found the statutory presumption of legally enforceable debt was successfully rebutted by the accused, who demonstrated the cheque was obtained under coercion. The MOU lacked provisions for loss calculation, contained no arbitration clause, and was unilaterally terminated. The complainant failed to prove actual loss, its quantification, or proper assessment. The accused's cross-examination of witnesses and documentary evidence established the cheque was not issued in discharge of any legally enforceable liability, warranting dismissal of charges.
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