Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Dishonour of cheque prosecutions require direct involvement by individual officers to impose vicarious liability; independent and non executive directors who lack executive control and pecuniary interest are not in charge of company affairs and cannot be held liable absent specific nexus to the financial transactions, and summons against such directors were quashed. By contrast, a chief financial officer is part of key managerial personnel with primary responsibility for accounting and financial administration; liability for negotiable instrument dishonour was maintained against the CFO and his summons upheld.
Dishonour of cheque prosecutions require direct involvement by individual officers to impose vicarious liability; independent and non executive directors who lack executive control and pecuniary interest are not in charge of company affairs and cannot be held liable absent specific nexus to the financial transactions, and summons against such directors were quashed. By contrast, a chief financial officer is part of key managerial personnel with primary responsibility for accounting and financial administration; liability for negotiable instrument dishonour was maintained against the CFO and his summons upheld.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
