https://www.taxtmi.com/caselaws?id=101532 Non-filing of the balance-sheet and profit and loss account under section 220 of the Companies Act, 1956 attracts liability once default is established; the statute does not create an exemption merely because the omission is said to be beyond the company's control. The High Court held that section 220(3) read with section 162 fixes punishment on the company and every officer in default for non-compliance with sections 220(1) and 220(2). The company's acquittal was therefore unsustainable, and the matter was remitted for de novo trial against the company alone. en-us Wed, 04 Nov 1987 00:00:00 +0530 Fri, 10 Feb 2012 11:16:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=101532 Non-filing of the balance-sheet and profit and loss account under section 220 of the Companies Act, 1956 attracts liability once default is established; the statute does not create an exemption merely because the omission is said to be beyond the company's control. The High Court held that section 220(3) read with section 162 fixes punishment on the company and every officer in default for non-compliance with sections 220(1) and 220(2). The company's acquittal was therefore unsustainable, and the matter was remitted for de novo trial against the company alone. Case-Laws Companies Law Wed, 04 Nov 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=101532