Approved gratuity fund provisions remain deductible despite general actual-payment requirements, preventing revision of the allowed gratuity deduction...
FIR allegations against a chartered accountant for filing an audit report in an incorrect form and submitting a revised report after delay did not, even if accepted, disclose criminal breach of trust, cheating, extortion, or any other cognizable offence. The initial Form 10BB was filed pursuant to the institution's memorandum, and reasons were provided for the delayed electronic filing of revised Form 10B. Criminal proceedings lacking allegations that constitute a cognizable offence amount to abuse of process and are liable to be quashed. The FIR and consequential criminal proceedings were quashed, and the chartered accountant was discharged.
FIR allegations against a chartered accountant for filing an audit report in an incorrect form and submitting a revised report after delay did not, even if accepted, disclose criminal breach of trust, cheating, extortion, or any other cognizable offence. The initial Form 10BB was filed pursuant to the institution's memorandum, and reasons were provided for the delayed electronic filing of revised Form 10B. Criminal proceedings lacking allegations that constitute a cognizable offence amount to abuse of process and are liable to be quashed. The FIR and consequential criminal proceedings were quashed, and the chartered accountant was discharged.
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TaxTMI 
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