Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for res...
The court held that mere suspicion against the respondent, a bank official, is not enough to frame charges in a case involving alleged conspiracy and misconduct in sanctioning credit facilities to a company. The proposal went through various committees, including the Loan Advisory Committee, and was approved by higher authorities like the Chief General Manager (Credit) and Executive Director. The respondent's role was limited to signing the memorandum after it was approved by others. The fact that the proposal was processed quickly does not constitute an offense. No material evidence showed any accused other than bank officials met the respondent before sanction. Based on the charge sheet material, the respondent's complicity was not established, and the court dismissed the appeal against the impugned order.
The court held that mere suspicion against the respondent, a bank official, is not enough to frame charges in a case involving alleged conspiracy and misconduct in sanctioning credit facilities to a company. The proposal went through various committees, including the Loan Advisory Committee, and was approved by higher authorities like the Chief General Manager (Credit) and Executive Director. The respondent's role was limited to signing the memorandum after it was approved by others. The fact that the proposal was processed quickly does not constitute an offense. No material evidence showed any accused other than bank officials met the respondent before sanction. Based on the charge sheet material, the respondent's complicity was not established, and the court dismissed the appeal against the impugned order.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4788
Join Channel
TaxTMI 
