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 allowed the criminal miscellaneous petition under Section 482 Cr.P.C., quashing the complaint under Section 138 NI Act. The court found that the applicant had given contemporaneous stop-payment instructions prior to the alleged date of cheque issuance, rendering the purported dishonour for "insufficient funds" incapable of attracting penal consequences. The complaint was held to be premature and devoid of a valid cause of action: service of the statutory notice was not proved and the suit was instituted before the 15-day period for payment had expired. Consequently, the statutory presumption available under Section 139 NI Act was inapplicable, and continuation of proceedings was deemed abuse of process.
The HC allowed the criminal miscellaneous petition under Section 482 Cr.P.C., quashing the complaint under Section 138 NI Act. The court found that the applicant had given contemporaneous stop-payment instructions prior to the alleged date of cheque issuance, rendering the purported dishonour for "insufficient funds" incapable of attracting penal consequences. The complaint was held to be premature and devoid of a valid cause of action: service of the statutory notice was not proved and the suit was instituted before the 15-day period for payment had expired. Consequently, the statutory presumption available under Section 139 NI Act was inapplicable, and continuation of proceedings was deemed abuse of process.
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