Tag Archives: advance

Cheque not an existing debt or liability for advance payments: SC

In an important ruling, the Supreme Court of India held that if a cheque is issued as an advance payment for purchase of the goods and for any reason purchase order is not carried to its logical conclusion, the cheque … Continue reading

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Supreme Court as well as High Courts have jurisdiction to entertain challenge to the advance ruling of AAR: SC

As the decisions of Authority for Advance Rulings are binding on the applicant and the income tax department in respect of the transaction under sub-section (1) of Section 245S of the Income Tax Act, the Supreme Court of India held … Continue reading

Posted in Company Law, Constitution Law, General Law, Income Tax Law, International Law | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment