Generate professional replies, appeals, opinions to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.
Power to contribute to National Defence Fund permits company donations despite internal limits and mandates disclosure in accounts. The Board of Directors, any person or authority exercising Board powers, or the company in general meeting may, notwithstanding internal or statutory restrictions, contribute amounts to the National Defence Fund or any Central Government-approved fund for national defence. Every company must disclose in its profit and loss account the total contributions made to such Fund during the relevant financial year.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Power to contribute to National Defence Fund permits company donations despite internal limits and mandates disclosure in accounts.
The Board of Directors, any person or authority exercising Board powers, or the company in general meeting may, notwithstanding internal or statutory restrictions, contribute amounts to the National Defence Fund or any Central Government-approved fund for national defence. Every company must disclose in its profit and loss account the total contributions made to such Fund during the relevant financial year.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.