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 dismissed the petition and declined discharge in a complaint under S.138 read with S.142 NI Act. The court held there was no binding compromise on record: the alleged out-of-court settlement was neither placed on record nor accompanied by sworn statements or a court order compounding the offence, so the complaint was not subsumed. Regarding vicarious liability, the petitioner-asserting status as a sleeping partner-was held prima facie liable under S.141(1) NI Act and Partnership Act principles because there is no material showing non-involvement in firm affairs; the defence of non-participation must be established at trial. Petition dismissed.
The HC dismissed the petition and declined discharge in a complaint under S.138 read with S.142 NI Act. The court held there was no binding compromise on record: the alleged out-of-court settlement was neither placed on record nor accompanied by sworn statements or a court order compounding the offence, so the complaint was not subsumed. Regarding vicarious liability, the petitioner-asserting status as a sleeping partner-was held prima facie liable under S.141(1) NI Act and Partnership Act principles because there is no material showing non-involvement in firm affairs; the defence of non-participation must be established at trial. Petition dismissed.
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