Transfer pricing comparability requires functional alignment, reliable financial data, and careful review of working capital and receivables adjustmen...
Transfer pricing rules require benchmarking corporate guarantees and associated-enterprise advances, while invalid domestic-transaction adjustments ca...
Prospective sugar export prohibition required registered letters of credit; private contracts and export quotas created no enforceable continuation ri...
The SC held that criminal proceedings initiated by the complainant for recovery of unpaid sale consideration do not constitute criminal breach of trust under Section 406 IPC, as mere sale transactions do not amount to entrustment of goods. The Court criticized the High Court for permitting criminal proceedings in a pure civil dispute, emphasizing that such resort amounts to abuse of process. The SC underscored established jurisprudence clarifying the distinction between civil claims and criminal breach of trust. Observations by the High Court suggesting criminal prosecution as a substitute for civil recovery were condemned. Consequently, the SC set aside the impugned High Court order and remanded the matter for fresh consideration of the Criminal Miscellaneous Application, partially allowing the appeal.
The SC held that criminal proceedings initiated by the complainant for recovery of unpaid sale consideration do not constitute criminal breach of trust under Section 406 IPC, as mere sale transactions do not amount to entrustment of goods. The Court criticized the High Court for permitting criminal proceedings in a pure civil dispute, emphasizing that such resort amounts to abuse of process. The SC underscored established jurisprudence clarifying the distinction between civil claims and criminal breach of trust. Observations by the High Court suggesting criminal prosecution as a substitute for civil recovery were condemned. Consequently, the SC set aside the impugned High Court order and remanded the matter for fresh consideration of the Criminal Miscellaneous Application, partially allowing the appeal.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4800
Join Channel
TaxTMI 
