TMI BlogRevision u/s 263 - loss incurred by the Directors - trading activity in F & O undertaken on behalf of...Revision u/s 263 - loss incurred by the Directors - trading activity in F & O undertaken on behalf of the company - The trading of sale and purchase of shares done by the directors of the company in their individual capacity cannot be said to be in pursuance to the Board's resolution passed by the assessee company. In the board resolution, there is no whisper of making any "investment" on behalf of the company by these directors as provided u/s. 179(3)(e) of the Companies Act, 2013. In view of t..... ..... X X X X Extracts X X X X X X X X Extracts X X X X
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