Compulsorily convertible debentures remain debt before conversion, preventing transfer-pricing and interest-deduction disallowances on the stated fact...
Stock-in-trade transfer taxability follows possession and consideration, not later conveyance registration, limiting deemed-value provisions to the ac...
Alternative statutory remedy under GST bars writ challenge where classification, notice variance, and hearing disputes require factual appellate revie...
Merger of a drawee bank transfers its assets, liabilities and customer accounts to the resulting bank; it does not extinguish the account or invalidate a cheque drawn on it. The cheque recipient may present the cheque without fault despite the merger. Claims that the cheque was misplaced constitute a defence requiring trial, rather than a ground to quash cheque-dishonour proceedings. Account closure likewise does not justify quashing. Cheque-dishonour proceedings therefore continue, with the drawer retaining liberty to raise available defences during trial.
Merger of a drawee bank transfers its assets, liabilities and customer accounts to the resulting bank; it does not extinguish the account or invalidate a cheque drawn on it. The cheque recipient may present the cheque without fault despite the merger. Claims that the cheque was misplaced constitute a defence requiring trial, rather than a ground to quash cheque-dishonour proceedings. Account closure likewise does not justify quashing. Cheque-dishonour proceedings therefore continue, with the drawer retaining liberty to raise available defences during trial.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
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