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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HC upheld the conviction of A1 for offence under S.138 NI Act, holding that the cheque dated 01.07.2014 was validly presented, that a legally enforceable debt stood proved, and that presumptions under Ss.118 and 139 NI Act were not rebutted. The "lost cheque" defence was rejected as improbable and unsupported by proper investigation or contemporaneous action. Alleged contradictions and objections on financial capacity were held immaterial in view of admitted signature and supporting financial records. The reliance on unproved attendance registers was discarded. The sentence of two years' simple imprisonment was affirmed as proportionate. However, the compensation of Rs.20,00,000/- under S.357(3) CrPC was held excessive in relation to the cheque amount and was directed to be suitably reduced, resulting in partial allowance of the revision.
HC upheld the conviction of A1 for offence under S.138 NI Act, holding that the cheque dated 01.07.2014 was validly presented, that a legally enforceable debt stood proved, and that presumptions under Ss.118 and 139 NI Act were not rebutted. The "lost cheque" defence was rejected as improbable and unsupported by proper investigation or contemporaneous action. Alleged contradictions and objections on financial capacity were held immaterial in view of admitted signature and supporting financial records. The reliance on unproved attendance registers was discarded. The sentence of two years' simple imprisonment was affirmed as proportionate. However, the compensation of Rs.20,00,000/- under S.357(3) CrPC was held excessive in relation to the cheque amount and was directed to be suitably reduced, resulting in partial allowance of the revision.
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