https://www.taxtmi.com/caselaws?id=96590 Balance-sheet entries made under the statutory form, including treatment of disputed interest and classification of bad and doubtful debts, were held not to be criminally false where they reflected a bona fide and reasonable accounting judgment. The court found that adequate provision had been made through reserve and interest adjustment balances, and that the issue turned on accounting assessment rather than demonstrable falsity. In the absence of proof that the statements were positively untrue and knowingly made false, criminal prosecution was not justified merely because another accounting view might later appear preferable. The order discharging the accused was upheld and no further prosecution or enquiry was directed. en-us Thu, 28 Jan 1932 00:00:00 +0530 Fri, 16 Mar 2012 19:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96590 Balance-sheet entries made under the statutory form, including treatment of disputed interest and classification of bad and doubtful debts, were held not to be criminally false where they reflected a bona fide and reasonable accounting judgment. The court found that adequate provision had been made through reserve and interest adjustment balances, and that the issue turned on accounting assessment rather than demonstrable falsity. In the absence of proof that the statements were positively untrue and knowingly made false, criminal prosecution was not justified merely because another accounting view might later appear preferable. The order discharging the accused was upheld and no further prosecution or enquiry was directed. Case-Laws Companies Law Thu, 28 Jan 1932 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96590