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 revision and upheld the acquittal by the Additional Sessions Judge in a Section 138 NIA prosecution. The court held the POA-holder lacked the requisite personal knowledge to verify the complaint or to be a competent witness, as the POA did not evidence authority to depose nor show firsthand knowledge of the underlying transaction. The cheque, deposited and returned for "funds insufficient" after cancellation of an agreement, did not establish a legally enforceable debt owed to the complainant. The HC affirmed that Section 138 does not apply where debt is not legally recoverable; the accused's burden to rebut the presumption was properly considered and acquittal was lawful.
The HC dismissed the revision and upheld the acquittal by the Additional Sessions Judge in a Section 138 NIA prosecution. The court held the POA-holder lacked the requisite personal knowledge to verify the complaint or to be a competent witness, as the POA did not evidence authority to depose nor show firsthand knowledge of the underlying transaction. The cheque, deposited and returned for "funds insufficient" after cancellation of an agreement, did not establish a legally enforceable debt owed to the complainant. The HC affirmed that Section 138 does not apply where debt is not legally recoverable; the accused's burden to rebut the presumption was properly considered and acquittal was lawful.
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