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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In an appeal by a convicted director/authorised signatory under Section 138 read with Section 141 of the NI Act where the company could not be proceeded against due to a legal impediment, the Court examined whether an appellate deposit under Section 148 can be directed against such individual. It held that the appellate court must not impose the 20% deposit mechanically and must consider exceptional circumstances, including that the appellant may not be the "drawer"; accordingly, the condition directing deposit was quashed and suspension of sentence was restored on bond. However, noting conflicting interpretations on whether Section 148 is confined to the juristic drawer in all such scenarios, the question was referred for decision by a Larger Bench. - SC
In an appeal by a convicted director/authorised signatory under Section 138 read with Section 141 of the NI Act where the company could not be proceeded against due to a legal impediment, the Court examined whether an appellate deposit under Section 148 can be directed against such individual. It held that the appellate court must not impose the 20% deposit mechanically and must consider exceptional circumstances, including that the appellant may not be the "drawer"; accordingly, the condition directing deposit was quashed and suspension of sentence was restored on bond. However, noting conflicting interpretations on whether Section 148 is confined to the juristic drawer in all such scenarios, the question was referred for decision by a Larger Bench. - SC
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