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 upheld the conviction of the petitioner under Section 138 of the NI Act for dishonor of cheque due to insufficient funds, affirming the findings of the trial and appellate courts regarding the existence of a legally enforceable debt. The Court declined to interfere with the conviction, citing absence of illegality or irregularity. However, the HC modified the sentence, setting aside the substantive imprisonment of one month and instead directing the petitioner to undergo imprisonment only until the rising of the court. The petitioner was ordered to pay a fine of Rs. 4,00,000 in each case, with default imprisonment of one month per case. Payment of the fine would be disbursed to the complainant under Section 357(1) Cr.P.C. The Criminal Revision Petition was allowed in part, confirming conviction but altering the sentence to balance punitive and remedial considerations.
The HC upheld the conviction of the petitioner under Section 138 of the NI Act for dishonor of cheque due to insufficient funds, affirming the findings of the trial and appellate courts regarding the existence of a legally enforceable debt. The Court declined to interfere with the conviction, citing absence of illegality or irregularity. However, the HC modified the sentence, setting aside the substantive imprisonment of one month and instead directing the petitioner to undergo imprisonment only until the rising of the court. The petitioner was ordered to pay a fine of Rs. 4,00,000 in each case, with default imprisonment of one month per case. Payment of the fine would be disbursed to the complainant under Section 357(1) Cr.P.C. The Criminal Revision Petition was allowed in part, confirming conviction but altering the sentence to balance punitive and remedial considerations.
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