Restriction of Input Tax Credit under Rule 86A applies only to fraudulently or ineligible availed credit; mere wrongful recipient availment is insuffi...
Business reorganisation requires recognition of successor's modified return; draft orders against dissolved transferor quashed and fresh review direct...
Vicarious liability of directors under the Negotiable Instruments framework was affirmed, with the court applying the statutory presumption in favor of the complainant where cheques bore the director's signature, making a prima facie case for prosecution at the summoning stage; consequence: summoning orders not quashed. The contention of violation of bank mandate, alleged forgery, and mastermind/fraud were held to be triable factual defenses that must be tested at trial and do not negate prima facie liability. The High Court also rejected parallel forum approach and abuse of process by petitioners, noting inherent jurisdiction should be exercised sparingly when revisional remedies exist.
Vicarious liability of directors under the Negotiable Instruments framework was affirmed, with the court applying the statutory presumption in favor of the complainant where cheques bore the director's signature, making a prima facie case for prosecution at the summoning stage; consequence: summoning orders not quashed. The contention of violation of bank mandate, alleged forgery, and mastermind/fraud were held to be triable factual defenses that must be tested at trial and do not negate prima facie liability. The High Court also rejected parallel forum approach and abuse of process by petitioners, noting inherent jurisdiction should be exercised sparingly when revisional remedies exist.
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