Political contribution deductions require assessee-specific proof before cash-back allegations can justify disallowance or unexplained-money additions...
In a case under Section 138 of the N.I. Act against partners of a firm, the HC held that compounding of the offense by one partner discharges the entire liability of the partnership firm and all partners. The court emphasized that while a firm is not a legal entity separate from its partners, Section 141 of the N.I. Act allows prosecution in the firm's name. Partners' liability is joint and several, meaning each partner is liable for the entire debt individually and collectively. The court rejected partial settlement with one partner, ruling that once a matter is compromised for any amount, the offense is compounded toward all existing liabilities of the firm. Consequently, the complaint was quashed as compounded and the petitioner was acquitted.
In a case under Section 138 of the N.I. Act against partners of a firm, the HC held that compounding of the offense by one partner discharges the entire liability of the partnership firm and all partners. The court emphasized that while a firm is not a legal entity separate from its partners, Section 141 of the N.I. Act allows prosecution in the firm's name. Partners' liability is joint and several, meaning each partner is liable for the entire debt individually and collectively. The court rejected partial settlement with one partner, ruling that once a matter is compromised for any amount, the offense is compounded toward all existing liabilities of the firm. Consequently, the complaint was quashed as compounded and the petitioner was acquitted.
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