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...
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Presumption under the Negotiable Instruments Act arises where cheque execution and receipt of legal notice are admitted, shifting the burden to the accused to rebut that the cheque discharged a legally enforceable debt; the admitted signature on the cheque suffices to raise that presumption. The accused failed to lead evidence and relied only on his Criminal Procedure statement, which did not establish a probable defence; accordingly the presumption stood unrebutted and conviction and sentence were upheld. Privity with the named payee was unnecessary for the holder to invoke the presumption. The high court found no illegality or perversity in the trial court's decision and dismissed the revisional petition.
Presumption under the Negotiable Instruments Act arises where cheque execution and receipt of legal notice are admitted, shifting the burden to the accused to rebut that the cheque discharged a legally enforceable debt; the admitted signature on the cheque suffices to raise that presumption. The accused failed to lead evidence and relied only on his Criminal Procedure statement, which did not establish a probable defence; accordingly the presumption stood unrebutted and conviction and sentence were upheld. Privity with the named payee was unnecessary for the holder to invoke the presumption. The high court found no illegality or perversity in the trial court's decision and dismissed the revisional petition.
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