Reassessment under s.148A held valid; s.69 additions totaling Rs.7,00,000 deleted after acceptable contemporaneous explanations for property investmen...
Adjudication set aside; Rule 9 valuation based on internet engineer report quashed for Rule 3(4) non-compliance; Section 138B cross-examination requir...
The HC held that the offence under Section 454 of the Companies Act is a continuing offence and is summons-triable; however, the prosecution failed to discharge the initial burden of proving the preliminary facts (notice, lapse of prescribed time, availability of company records) necessary to establish wilful default so as to shift the evidential onus to the accused under the evidentiary provision. Because the prosecution did not prove beyond reasonable doubt that the failure to file the statement of affairs was without reasonable excuse, the onus never shifted and all accused were acquitted.
The HC held that the offence under Section 454 of the Companies Act is a continuing offence and is summons-triable; however, the prosecution failed to discharge the initial burden of proving the preliminary facts (notice, lapse of prescribed time, availability of company records) necessary to establish wilful default so as to shift the evidential onus to the accused under the evidentiary provision. Because the prosecution did not prove beyond reasonable doubt that the failure to file the statement of affairs was without reasonable excuse, the onus never shifted and all accused were acquitted.
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