https://www.taxtmi.com/caselaws?id=98269 A liquidator may be excused for a technical omission in a company return where the surrounding circumstances show honest and reasonable conduct, including a credible explanation for the entries made and no convincing rebuttal. The Court accepted that the disputed amount reflected cheque payment to a foreign creditor and necessary clearance expenses, so relief from liability was warranted under section 281 of the Indian Companies Act, 1913. The Court also construed the relief provision broadly to cover apprehended criminal prosecution under sections 282 and 282A, and held that dissolution of the company did not bar such relief where future liability was still in issue. en-us Fri, 05 Nov 1965 00:00:00 +0530 Wed, 12 Jan 2022 12:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=98269 A liquidator may be excused for a technical omission in a company return where the surrounding circumstances show honest and reasonable conduct, including a credible explanation for the entries made and no convincing rebuttal. The Court accepted that the disputed amount reflected cheque payment to a foreign creditor and necessary clearance expenses, so relief from liability was warranted under section 281 of the Indian Companies Act, 1913. The Court also construed the relief provision broadly to cover apprehended criminal prosecution under sections 282 and 282A, and held that dissolution of the company did not bar such relief where future liability was still in issue. Case-Laws Companies Law Fri, 05 Nov 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=98269