Charitable registration turns on predominant purpose and genuine activities, while incidental fees and related-party rent require supporting adverse m...
MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory c...
Omitted specified domestic transaction provision invalidates related-party expenditure transfer-pricing references and assessments based on consequent...
Preventive suspension requires an immediate continuing threat and cannot become indefinite without inquiry, fresh evidence, or proportionate safeguard...
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.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
