Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
The HC held that a Hindu Undivided Family (HUF) can be considered an 'association of individuals' u/s 141 of the NI Act for dishonour of Cheque. The applicant's participation in the affairs of the accused HUF attracts vicarious liability. The term 'association of individuals' includes an HUF whose business is a joint concern. The criminal application was dismissed.
The HC held that a Hindu Undivided Family (HUF) can be considered an 'association of individuals' u/s 141 of the NI Act for dishonour of Cheque. The applicant's participation in the affairs of the accused HUF attracts vicarious liability. The term 'association of individuals' includes an HUF whose business is a joint concern. The criminal application was dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
