https://www.taxtmi.com/acts?id=2035 Contravention by a corporate entity renders the company and every person who was in charge of, and responsible to, the company for its business at the time of the contravention deemed guilty and liable to proceedings, subject to a defence of lack of knowledge or proof of due diligence to prevent the contravention. Where the contravention occurred with the consent or connivance of, or is attributable to neglect by, any director, manager, secretary or other officer, that individual is also deemed guilty. "Company" includes bodies corporate, firms and associations, and "director" in relation to a firm means a partner. en-us Sat, 19 Jan 2008 22:45:54 +0530 Thu, 29 May 2025 10:24:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=2035 Contravention by a corporate entity renders the company and every person who was in charge of, and responsible to, the company for its business at the time of the contravention deemed guilty and liable to proceedings, subject to a defence of lack of knowledge or proof of due diligence to prevent the contravention. Where the contravention occurred with the consent or connivance of, or is attributable to neglect by, any director, manager, secretary or other officer, that individual is also deemed guilty. "Company" includes bodies corporate, firms and associations, and "director" in relation to a firm means a partner. Act-Rules FEMA Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=2035