Embezzlement losses in charitable institutions remain allowable when misappropriation is established, irrecoverable, and not a specified-person benefi...
National long-distance undertaking status supports deduction where separately licensed infrastructure, resources, revenue, and expenditure establish c...
Agency reimbursement income follows contractual deposit-liability computation, while pending deposit collections do not constitute deemed-dividend loa...
Membership-consent thresholds for oppression petitions are satisfied by unchallenged voter-list consents, while unsupported forgery claims require pro...
Judicial review of closure of a disciplinary complaint concerning alleged unauthorised access to and alteration of an income-tax account is confined to examining the legality of the decision-making process. Writ jurisdiction does not permit reappreciation of evidence or substitution of the disciplinary authority's view. The absence of a fiduciary relationship did not itself exclude misconduct, but was material where the prima facie view assumed that the Chartered Accountant was the petitioner's tax consultant, which both denied. The closure rested on lack of cogent evidence of mala fide intent or deliberate facilitation, rather than merely pending criminal proceedings; the writ petition was dismissed.
Judicial review of closure of a disciplinary complaint concerning alleged unauthorised access to and alteration of an income-tax account is confined to examining the legality of the decision-making process. Writ jurisdiction does not permit reappreciation of evidence or substitution of the disciplinary authority's view. The absence of a fiduciary relationship did not itself exclude misconduct, but was material where the prima facie view assumed that the Chartered Accountant was the petitioner's tax consultant, which both denied. The closure rested on lack of cogent evidence of mala fide intent or deliberate facilitation, rather than merely pending criminal proceedings; the writ petition was dismissed.
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TaxTMI 
TaxTMI 
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