Concessional corporate tax option under section 115BAA survives procedural documentary lapses when statutory compliance and earlier exercise are estab...
Penny-stock additions require transaction-specific evidence; general investigation material alone cannot establish undisclosed income or accommodation...
Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
The HC upheld the conviction for dishonour of cheque due to insufficient funds, affirming the presumption under Sections 118(a) and 139 of the NI Act that the cheque was issued for discharge of a legal debt. The accused failed to rebut this presumption, offering no credible explanation or defence evidence under Section 313 CrPC. Mere denial was deemed insufficient. The Court found no error or perversity in the trial court's findings and rejected the revision petition. The compensation of Rs. 15,000 awarded by the trial court was deemed reasonable, and the sentence of imprisonment for default in payment was affirmed. The revision petition was dismissed in its entirety.
The HC upheld the conviction for dishonour of cheque due to insufficient funds, affirming the presumption under Sections 118(a) and 139 of the NI Act that the cheque was issued for discharge of a legal debt. The accused failed to rebut this presumption, offering no credible explanation or defence evidence under Section 313 CrPC. Mere denial was deemed insufficient. The Court found no error or perversity in the trial court's findings and rejected the revision petition. The compensation of Rs. 15,000 awarded by the trial court was deemed reasonable, and the sentence of imprisonment for default in payment was affirmed. The revision petition was dismissed in its entirety.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4830 
Join Channel 
