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 affirmed the trial court's conviction of the accused under Section 138 of the NI Act for dishonour of cheque due to insufficient funds. The accused failed to rebut the statutory presumption of liability, as mere denial under Section 313 Cr.P.C. was insufficient without adducing defense evidence. The cheque was issued against a legally enforceable debt, and the complainant was the holder in due course entitled to maintain the complaint. The accused did not dispute the loan or account details and failed to pay despite receipt of demand notice. The revision petition challenging the conviction and sentence was dismissed, affirming the imposition of imprisonment for default in payment of compensation.
The HC affirmed the trial court's conviction of the accused under Section 138 of the NI Act for dishonour of cheque due to insufficient funds. The accused failed to rebut the statutory presumption of liability, as mere denial under Section 313 Cr.P.C. was insufficient without adducing defense evidence. The cheque was issued against a legally enforceable debt, and the complainant was the holder in due course entitled to maintain the complaint. The accused did not dispute the loan or account details and failed to pay despite receipt of demand notice. The revision petition challenging the conviction and sentence was dismissed, affirming the imposition of imprisonment for default in payment of compensation.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4830 
Join Channel 
