Revisability of return invalidation communications under tax procedure affirmed, impugned non revisional finding quashed and matter remitted for fresh...
Transferable duty credit scrips validity and bona fide transferee entitlement to exemption upheld where scrips were subsisting at import, appeals allo...
Classification of knocked down motor vehicle component imports: Notification benefit denied because items are standalone non kit parts requiring subst...
Whether presentation of a security cheque under a loan agreement could constitute criminal breach of trust punishable under s.409 IPC turned on proof of entrustment and dishonest misappropriation under ss.405-406 IPC. Since the cheque was voluntarily issued as contractual security in a commercial loan transaction and was meant to be presented on default, it did not involve property entrusted by the complainant to the accused, create any fiduciary relationship, or disclose misappropriation; presentation was in terms of the agreement. The complaint was also treated as a retaliatory, abusive attempt to pre-empt defences in the pending s.138 NI Act proceedings. Summoning and NBW orders were set aside and the complaint was quashed. - HC
Whether presentation of a security cheque under a loan agreement could constitute criminal breach of trust punishable under s.409 IPC turned on proof of entrustment and dishonest misappropriation under ss.405-406 IPC. Since the cheque was voluntarily issued as contractual security in a commercial loan transaction and was meant to be presented on default, it did not involve property entrusted by the complainant to the accused, create any fiduciary relationship, or disclose misappropriation; presentation was in terms of the agreement. The complaint was also treated as a retaliatory, abusive attempt to pre-empt defences in the pending s.138 NI Act proceedings. Summoning and NBW orders were set aside and the complaint was quashed. - HC
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