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 a criminal revision petition challenging conviction under Section 138 of the Negotiable Instruments Act for cheque dishonour. The petitioner issued a cheque for Rs. 6,00,000/- which was dishonoured twice due to insufficient funds. The Metropolitan Magistrate convicted the petitioner and imposed a fine of Rs. 10,65,000/-. The HC upheld the conviction, finding the loan and non-repayment established on balance of probabilities. Regarding jurisdictional challenge, the HC held that under the special provisions of Section 138, the Metropolitan Magistrate possessed authority to impose fine up to twice the cheque amount, making the imposed fine legally valid despite exceeding general Cr.P.C. limits under Section 29.
The HC dismissed a criminal revision petition challenging conviction under Section 138 of the Negotiable Instruments Act for cheque dishonour. The petitioner issued a cheque for Rs. 6,00,000/- which was dishonoured twice due to insufficient funds. The Metropolitan Magistrate convicted the petitioner and imposed a fine of Rs. 10,65,000/-. The HC upheld the conviction, finding the loan and non-repayment established on balance of probabilities. Regarding jurisdictional challenge, the HC held that under the special provisions of Section 138, the Metropolitan Magistrate possessed authority to impose fine up to twice the cheque amount, making the imposed fine legally valid despite exceeding general Cr.P.C. limits under Section 29.
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