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Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
Directors cannot singly obtain quashment of criminal proceedings originating from the company for offences under the Negotiable Instruments Act where the company is the primary offender; vicarious liability attaches to persons who at the time of the offence were in charge of and responsible for the conduct of the company's business, and absence of company impleadment renders director-only petitions for quashment not maintainable. The legal effect is that challenges to issuance of process in company-originated cheque dishonour complaints cannot be sustained solely by directors without the company, and trial proceedings should proceed expeditiously.
Directors cannot singly obtain quashment of criminal proceedings originating from the company for offences under the Negotiable Instruments Act where the company is the primary offender; vicarious liability attaches to persons who at the time of the offence were in charge of and responsible for the conduct of the company's business, and absence of company impleadment renders director-only petitions for quashment not maintainable. The legal effect is that challenges to issuance of process in company-originated cheque dishonour complaints cannot be sustained solely by directors without the company, and trial proceedings should proceed expeditiously.
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