In absence of involvement in day-to-day management of company assessee cannot be prosecuted U/s. 276 B

Kalanithi Maran Vs. UOI (Madras High Court)

In the absence of any material, 2nd respondent should not have come to conclusion that assessee was Principal Officer. Unless the 2nd respondent makes out a prima facie case against petitioner of his liability and obligation as Principal Officer in day-to-day affairs of the company as Chairman-cum-Managing Director of company, petitioner could not be prosecuted under section 276 B for the offence committed by company. A mere allegation that the petitioner was incharge of conduct of company was not sufficient t

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