Admissibility of inquiry statements and electronic printouts in customs adjudication requires witness examination and cross-examination before relianc...
Money laundering property attachment and third-party encumbrance rights clarified; prior bona fide interests enforceable before confiscation, appeals ...
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 
of 4814 
Join Channel 
