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 the revision petition challenging conviction under Section 138 of the Negotiable Instruments Act. The accused admitted signing the dishonoured cheque but failed to rebut the statutory presumption under Sections 118(a) and 139 that it was issued to discharge legal liability. The court held that even security cheques attract criminal liability when dishonoured. The accused's defence lacked credible evidence, and proper notice was served as evidenced by acknowledgment bearing his signatures. The trial court's compensation award of Rs. 3,44,000 (double the cheque amount) was upheld, considering eight-year litigation delay, interest loss, and legal expenses. The HC affirmed that revisional jurisdiction cannot reappreciate evidence absent patent illegality or perversity, upholding concurrent findings below.
The HC dismissed the revision petition challenging conviction under Section 138 of the Negotiable Instruments Act. The accused admitted signing the dishonoured cheque but failed to rebut the statutory presumption under Sections 118(a) and 139 that it was issued to discharge legal liability. The court held that even security cheques attract criminal liability when dishonoured. The accused's defence lacked credible evidence, and proper notice was served as evidenced by acknowledgment bearing his signatures. The trial court's compensation award of Rs. 3,44,000 (double the cheque amount) was upheld, considering eight-year litigation delay, interest loss, and legal expenses. The HC affirmed that revisional jurisdiction cannot reappreciate evidence absent patent illegality or perversity, upholding concurrent findings below.
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