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...
The complaint was time-barred and filed beyond the stipulated period u/s 142(b) of the NI Act. The demand notice was served to the accused company through email on 11.03.2022, which constituted effective service on the directors as well. The limitation period commenced from the date of service, and the complaint filed on 28.04.2022 was beyond the prescribed time limit without seeking condonation of delay. The trial court took cognizance without considering the delay, rendering the complaint not maintainable. Consequently, the criminal complaint was quashed, and the order taking cognizance was set aside by the High Court.
The complaint was time-barred and filed beyond the stipulated period u/s 142(b) of the NI Act. The demand notice was served to the accused company through email on 11.03.2022, which constituted effective service on the directors as well. The limitation period commenced from the date of service, and the complaint filed on 28.04.2022 was beyond the prescribed time limit without seeking condonation of delay. The trial court took cognizance without considering the delay, rendering the complaint not maintainable. Consequently, the criminal complaint was quashed, and the order taking cognizance was set aside by the High Court.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4883 
