Minimum alternate tax exclusions for pre-amendment banking companies and expatriate Indian branch salaries remain outside head office expenditure limi...
Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Defect in preparation of profit and loss account of the company - amount of bad debt written off - offence either under Section 447 or 448 of the Companies Act - The present prosecution has been filed mainly on the ground that reply notice given by the petitioner was not satisfactory to the defacto complainant. Otherwise, it is not the case of the de facto complainant that there are material facts which have been suppressed and there is no clear cut findings recorded by the de facto complainant as to the nature of the omissions or suppression of material facts - unless and until, there is a finding as to the suppression of the material facts, the prosecution cannot be launched, as a matter of right. - HC
Defect in preparation of profit and loss account of the company - amount of bad debt written off - offence either under Section 447 or 448 of the Companies Act - The present prosecution has been filed mainly on the ground that reply notice given by the petitioner was not satisfactory to the defacto complainant. Otherwise, it is not the case of the de facto complainant that there are material facts which have been suppressed and there is no clear cut findings recorded by the de facto complainant as to the nature of the omissions or suppression of material facts - unless and until, there is a finding as to the suppression of the material facts, the prosecution cannot be launched, as a matter of right. - HC
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