https://www.taxtmi.com/caselaws?id=101869 The court interpreted "latest audited balance-sheet" under Rule 3 of the Companies (Acceptance of Deposits) Rules, 1975, to mean the most recent balance-sheet available at the time of filing the return, not necessarily audited before March 31. It emphasized aligning with legislative intent and ensuring accurate financial representation. The court ruled in favor of the petitioner, directing acceptance of their return as compliant with Rule 10, highlighting the importance of reflecting the current financial status for effective supervision and control under Section 58A of the Companies Act, 1956. en-us Fri, 03 Aug 1990 00:00:00 +0530 Sat, 11 Feb 2012 13:42:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=101869 The court interpreted "latest audited balance-sheet" under Rule 3 of the Companies (Acceptance of Deposits) Rules, 1975, to mean the most recent balance-sheet available at the time of filing the return, not necessarily audited before March 31. It emphasized aligning with legislative intent and ensuring accurate financial representation. The court ruled in favor of the petitioner, directing acceptance of their return as compliant with Rule 10, highlighting the importance of reflecting the current financial status for effective supervision and control under Section 58A of the Companies Act, 1956. Case-Laws Companies Law Fri, 03 Aug 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=101869