Specified development authority income receives retrospective tax exemption, subject to non-commercial activity, unchanged income sources, and return-...
Unified Brand India framework introduces voluntary Trust Mark certification and funding support for export branding, packaging and global promotional ...
Origin Declaration authentication governs preferential tariff claims under India-UK CETA, requiring a validated reference number before import clearan...
Separate assessment orders for different years remain valid when distinct notices and hearing opportunities prevent prejudice from combined proceeding...
Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
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.
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