https://www.taxtmi.com/caselaws?id=100108 In a prosecution for default in filing the statement of affairs under section 454(5) of the Companies Act, 1956, absence of reasonable excuse is an essential ingredient that the prosecution must prove. Where the company's records were not available to the accused, the books had remained with the Revenue authorities, and there was no reliable proof that the records were made available for inspection or for preparing the statement, the default was treated as attributable to a reasonable excuse. The accused were therefore given the benefit of doubt and acquitted. The material principle is that mere default is insufficient unless the prosecution establishes that it occurred without reasonable excuse. en-us Thu, 05 Nov 1981 00:00:00 +0530 Tue, 31 Jan 2012 12:25:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=100108 In a prosecution for default in filing the statement of affairs under section 454(5) of the Companies Act, 1956, absence of reasonable excuse is an essential ingredient that the prosecution must prove. Where the company's records were not available to the accused, the books had remained with the Revenue authorities, and there was no reliable proof that the records were made available for inspection or for preparing the statement, the default was treated as attributable to a reasonable excuse. The accused were therefore given the benefit of doubt and acquitted. The material principle is that mere default is insufficient unless the prosecution establishes that it occurred without reasonable excuse. Case-Laws Companies Law Thu, 05 Nov 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=100108