Co-operative credit society deduction on bank deposit interest upheld where funds were business funds and income remained attributable to member credi...
Transfer pricing benchmarking and receivables adjustments remanded: segmental financials need proper scrutiny, and foreign-currency interest must trac...
Initial defect in authorization to prosecute under the Negotiable Instruments regime is a curable defect; a company acts through natural persons and a complaint stating prima facie that an authorised employee represents the company and has knowledge is sufficient for cognizance. Where authorization is disputed on serious factual grounds the accused may raise the issue at trial and the Magistrate should not dismiss at threshold; invocation of inherent jurisdiction to quash such cognizance is unjustified. Subsequent ratification or board resolution may validate the complaint and additional evidence to that effect was rightly permitted.
Initial defect in authorization to prosecute under the Negotiable Instruments regime is a curable defect; a company acts through natural persons and a complaint stating prima facie that an authorised employee represents the company and has knowledge is sufficient for cognizance. Where authorization is disputed on serious factual grounds the accused may raise the issue at trial and the Magistrate should not dismiss at threshold; invocation of inherent jurisdiction to quash such cognizance is unjustified. Subsequent ratification or board resolution may validate the complaint and additional evidence to that effect was rightly permitted.
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