Interest on delayed release of requisitioned cash includes statutory pre-assessment interest and restitutionary compensation for unlawful post-assessm...
Incomplete inventory records justify rejecting accounts, while profit estimation requires relevant comparable material and interest falls under other ...
Transfer-pricing comparability requires functional alignment; delayed associated-enterprise receivables need separate LIBOR-based benchmarking, while ...
Extended reassessment limitation in search cases requires asset-linked escaped income, invalidating additions based only on unexplained money or expen...
Enhanced tolerance band under section 43CA applies retrospectively, deleting qualifying deemed-sale additions while disputed stamp valuation requires ...
Admission of a cheque signature activates the presumptions of consideration and legally enforceable debt or liability under Sections 118(a) and 139 of the Negotiable Instruments Act. The drawer then bears an evidentiary burden to raise a probable, evidence-based defence on the preponderance of probabilities; bare denials, unsupported claims of misuse, or a blank-cheque plea ordinarily do not rebut the presumptions. Financial capacity of the complainant becomes material only after a credible and specific challenge. These presumptions do not remove the requirement to establish the procedural ingredients of Section 138, including dishonour, timely demand notice, non-payment, and timely complaint.
Admission of a cheque signature activates the presumptions of consideration and legally enforceable debt or liability under Sections 118(a) and 139 of the Negotiable Instruments Act. The drawer then bears an evidentiary burden to raise a probable, evidence-based defence on the preponderance of probabilities; bare denials, unsupported claims of misuse, or a blank-cheque plea ordinarily do not rebut the presumptions. Financial capacity of the complainant becomes material only after a credible and specific challenge. These presumptions do not remove the requirement to establish the procedural ingredients of Section 138, including dishonour, timely demand notice, non-payment, and timely complaint.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4913 
