https://www.taxtmi.com/caselaws?id=795791 Fraud classification under the 2024 Fraud Master Circular requires a reasoned order addressing the noticee's response, the relevant facts and circumstances, and reasons for rejecting the defence. An order that merely reproduces forensic-audit observations and the show-cause notice, without engaging with the defences, is unsustainable. Fraud proceedings could not be recommenced for the relevant review period where the forensic audit identified no fraudulent transactions during the individual's directorship, the individual had ceased to be a director before the account became an NPA, and no personal guarantee was established. The fraud classification lacked a sustainable basis and could not be revived on that audit material. en-us Tue, 21 Jul 2026 00:00:00 +0530 Tue, 28 Jul 2026 08:30:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795791 Fraud classification under the 2024 Fraud Master Circular requires a reasoned order addressing the noticee's response, the relevant facts and circumstances, and reasons for rejecting the defence. An order that merely reproduces forensic-audit observations and the show-cause notice, without engaging with the defences, is unsustainable. Fraud proceedings could not be recommenced for the relevant review period where the forensic audit identified no fraudulent transactions during the individual's directorship, the individual had ceased to be a director before the account became an NPA, and no personal guarantee was established. The fraud classification lacked a sustainable basis and could not be revived on that audit material. Case-Laws IBC Tue, 21 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795791