Deductibility for charitable donations affirmed where payments to approved relief funds, even if CSR-driven, qualify under the donation deduction sche...
Mis-declaration in import descriptions must be deliberate to justify confiscation; withheld contemporaneous import documents invalidate value redeterm...
Liability for EPCG export shortfall: duty and interest sustained, but confiscation and penalties quashed where no fraud and causes beyond importer con...
Section 217(3) required the board to furnish full explanations only for genuine reservations, qualifications or adverse remarks in the auditor's report, so a generic comment that internal audit needed strengthening did not attract penal liability under Section 217(5). The complaint therefore disclosed no prima facie offence. Prosecution was also time-barred because there was no prior sanction requirement, no valid basis to exclude time under Section 470(3) CrPC, and no condonation sought. The Magistrate's cognizance and summons were unsustainable because the record showed no application of mind before issuing process.
Section 217(3) required the board to furnish full explanations only for genuine reservations, qualifications or adverse remarks in the auditor's report, so a generic comment that internal audit needed strengthening did not attract penal liability under Section 217(5). The complaint therefore disclosed no prima facie offence. Prosecution was also time-barred because there was no prior sanction requirement, no valid basis to exclude time under Section 470(3) CrPC, and no condonation sought. The Magistrate's cognizance and summons were unsustainable because the record showed no application of mind before issuing process.
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