Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
In a revision against conviction under s.138 NI Act, the dominant issue was whether the accused rebutted the statutory presumptions under ss.118(a) and 139 after admitting the cheque and signature. Since issuance and signature were not disputed, presumption of legally enforceable debt arose and the accused led no credible rebuttal; the plea of non-receipt of notice failed as no payment was made within 15 days of summons. The revisional court held it could not reappreciate evidence absent perversity and found no jurisdictional error or patent illegality in the conviction. Compensation equal to the cheque amount was held not excessive. Revision was dismissed - HC
In a revision against conviction under s.138 NI Act, the dominant issue was whether the accused rebutted the statutory presumptions under ss.118(a) and 139 after admitting the cheque and signature. Since issuance and signature were not disputed, presumption of legally enforceable debt arose and the accused led no credible rebuttal; the plea of non-receipt of notice failed as no payment was made within 15 days of summons. The revisional court held it could not reappreciate evidence absent perversity and found no jurisdictional error or patent illegality in the conviction. Compensation equal to the cheque amount was held not excessive. Revision was dismissed - HC
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