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 quashed criminal proceedings under Section 138 NIA against former directors of a company under liquidation. Applicants 2 and 4 had resigned as directors in 2015 and 2017 respectively, before the alleged cheque issuances in 2022. The court held that Section 141 NIA requires persons to be in charge of and responsible for company business at the time of offence commission. Post-moratorium under IBC 2016, powers transferred to Resolution Professional, rendering applicants 1 and 3 without authority to issue cheques. The court found cheques were actually issued in 2018 as security, and Resolution Professional had instructed the complainant not to deposit them after moratorium declaration on 9.5.2019. Criminal liability cannot attach to persons lacking requisite control and responsibility over company operations.
The HC quashed criminal proceedings under Section 138 NIA against former directors of a company under liquidation. Applicants 2 and 4 had resigned as directors in 2015 and 2017 respectively, before the alleged cheque issuances in 2022. The court held that Section 141 NIA requires persons to be in charge of and responsible for company business at the time of offence commission. Post-moratorium under IBC 2016, powers transferred to Resolution Professional, rendering applicants 1 and 3 without authority to issue cheques. The court found cheques were actually issued in 2018 as security, and Resolution Professional had instructed the complainant not to deposit them after moratorium declaration on 9.5.2019. Criminal liability cannot attach to persons lacking requisite control and responsibility over company operations.
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