Writ relief against show cause notices is available where jurisdiction is absent and concluded advance rulings cannot be reopened without fresh fraud ...
Section 80P business attribution: ITAT allows deduction on investment interest and ancillary receipts, but excludes staff-loan and other non-eligible ...
Criminal prosecution of a statutory auditor for defective company accounts requires that the auditor fall within the persons designated by the applicable accounting-compliance provision or be expressly charged with that duty. The notes state that an auditor's failure to flag accounting-standard non-compliance does not itself amount to making a false statement unless there is an allegation of a materially false statement or knowing omission of a material fact. They further distinguish wilful default from negligence or lack of due care: criminal liability for breach of statutory audit duties requires allegations of wilfulness, which adverse audit qualifications may negate. On the stated averments, the prosecution was quashed.
Criminal prosecution of a statutory auditor for defective company accounts requires that the auditor fall within the persons designated by the applicable accounting-compliance provision or be expressly charged with that duty. The notes state that an auditor's failure to flag accounting-standard non-compliance does not itself amount to making a false statement unless there is an allegation of a materially false statement or knowing omission of a material fact. They further distinguish wilful default from negligence or lack of due care: criminal liability for breach of statutory audit duties requires allegations of wilfulness, which adverse audit qualifications may negate. On the stated averments, the prosecution was quashed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4817 
Join Channel 
