Development agreements require legal possession or effective enjoyment for capital gains transfer; permissive possession and deferred consideration de...
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 ...
Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
Where the documentary evidence attributes the cheque liability to a partnership firm, the statutory scheme requires the firm to be impleaded and served with notice before criminal proceedings against individual partners can proceed; failure to implead the firm and to satisfy those requisites renders prosecution defective and individual conviction unsustainable. The evidential presumption of negotiable-instrument liability is rebuttable; admissions showing firm-related transactions shift the burden back to the complainant to prove a personal, legally enforceable debt, and absence of such proof defeats the prosecution's case.
Where the documentary evidence attributes the cheque liability to a partnership firm, the statutory scheme requires the firm to be impleaded and served with notice before criminal proceedings against individual partners can proceed; failure to implead the firm and to satisfy those requisites renders prosecution defective and individual conviction unsustainable. The evidential presumption of negotiable-instrument liability is rebuttable; admissions showing firm-related transactions shift the burden back to the complainant to prove a personal, legally enforceable debt, and absence of such proof defeats the prosecution's case.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
