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 under Section 138 of the NI Act for dishonour of a cheque due to insufficient funds. The accused did not dispute the signature but claimed the cheque was security for a loan; however, the court held the presumption of discharge of legal liability stood unrebutted. The accused, as principal debtor, was liable, and action against the guarantor was unnecessary. The complainant proved issuance, dishonour, notice, and non-payment beyond reasonable doubt. The sentence of three months' imprisonment and Rs. 20,000/- compensation on a principal amount of Rs. 60,000/- was deemed appropriate and not excessive. The revision petition was dismissed, affirming the trial court's findings and sentencing.
The HC upheld the conviction under Section 138 of the NI Act for dishonour of a cheque due to insufficient funds. The accused did not dispute the signature but claimed the cheque was security for a loan; however, the court held the presumption of discharge of legal liability stood unrebutted. The accused, as principal debtor, was liable, and action against the guarantor was unnecessary. The complainant proved issuance, dishonour, notice, and non-payment beyond reasonable doubt. The sentence of three months' imprisonment and Rs. 20,000/- compensation on a principal amount of Rs. 60,000/- was deemed appropriate and not excessive. The revision petition was dismissed, affirming the trial court's findings and sentencing.
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