https://www.taxtmi.com/acts?id=6611 Offences by a credit institution render the institution liable and also deem persons in charge of and responsible for its business to be guilty, unless they prove lack of knowledge or that they exercised due diligence to prevent the offence. Additionally, where an offence is committed with the consent or connivance of, or attributable to neglect by, a director, manager, secretary or other officer, that person is also deemed guilty; for co operative societies a controlling member is treated as a director. en-us Sat, 19 Jan 2008 22:45:54 +0530 Sat, 19 Jan 2008 22:45:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=6611 Offences by a credit institution render the institution liable and also deem persons in charge of and responsible for its business to be guilty, unless they prove lack of knowledge or that they exercised due diligence to prevent the offence. Additionally, where an offence is committed with the consent or connivance of, or attributable to neglect by, a director, manager, secretary or other officer, that person is also deemed guilty; for co operative societies a controlling member is treated as a director. Act-Rules Direct Taxes Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=6611