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 petition challenging acquittal under Section 138 of the Negotiable Instruments Act. The accused successfully rebutted statutory presumptions under Sections 118 and 139 by raising probable defence that no debt existed. The complainant failed to produce documentary evidence or witnesses proving advancement of the alleged friendly loan, despite cross-examination highlighting absence of corroborative evidence regarding loan's mode, manner, date, or purpose. Once the accused dislodged the presumption through probable defence, burden shifted to complainant to prove debt's existence as matter of fact. The Court found no perversity in the trial court's acquittal order, noting that acquittal fortifies presumption of innocence and should not be disturbed absent perverse evidence appreciation.
The HC dismissed a petition challenging acquittal under Section 138 of the Negotiable Instruments Act. The accused successfully rebutted statutory presumptions under Sections 118 and 139 by raising probable defence that no debt existed. The complainant failed to produce documentary evidence or witnesses proving advancement of the alleged friendly loan, despite cross-examination highlighting absence of corroborative evidence regarding loan's mode, manner, date, or purpose. Once the accused dislodged the presumption through probable defence, burden shifted to complainant to prove debt's existence as matter of fact. The Court found no perversity in the trial court's acquittal order, noting that acquittal fortifies presumption of innocence and should not be disturbed absent perverse evidence appreciation.
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