https://www.taxtmi.com/caselaws?id=280154 Criminal liability of directors and office-bearers requires specific factual allegations establishing their personal participation; it cannot arise solely from their corporate positions where no statutory vicarious liability applies. General allegations did not identify who forged documents, authorised share sales, or appropriated proceeds, so summons issued to the individuals were set aside. Cheating requires deception and fraudulent or dishonest inducement from the inception. A dispute over the amount payable, delayed-payment charges, and adjustment of sale proceeds towards other liabilities did not independently establish cheating. Proceedings against the company continued only for allegations and provisions supported by a prima facie case. en-us Mon, 14 Dec 2009 00:00:00 +0530 Tue, 23 Apr 2019 14:31:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280154 Criminal liability of directors and office-bearers requires specific factual allegations establishing their personal participation; it cannot arise solely from their corporate positions where no statutory vicarious liability applies. General allegations did not identify who forged documents, authorised share sales, or appropriated proceeds, so summons issued to the individuals were set aside. Cheating requires deception and fraudulent or dishonest inducement from the inception. A dispute over the amount payable, delayed-payment charges, and adjustment of sale proceeds towards other liabilities did not independently establish cheating. Proceedings against the company continued only for allegations and provisions supported by a prima facie case. Case-Laws Income Tax Mon, 14 Dec 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280154