Co-operative credit society deduction on bank deposit interest upheld where funds were business funds and income remained attributable to member credi...
Transfer pricing benchmarking and receivables adjustments remanded: segmental financials need proper scrutiny, and foreign-currency interest must trac...
In a GST prosecution alleging fraudulent availing of input tax credit through invoices without actual supply, arrest must rest on recorded reasons to believe supported by material, not suspicion alone, and cannot be used to compel tax payment. The note also reiterates the presumption of innocence in criminal law. It records that where custody has continued for months, the case is largely documentary and electronic, trial is unlikely to finish soon, and there is no material of tampering, witness pressure, or non-cooperation, continued incarceration is unnecessary and bail may be granted on conditions.
In a GST prosecution alleging fraudulent availing of input tax credit through invoices without actual supply, arrest must rest on recorded reasons to believe supported by material, not suspicion alone, and cannot be used to compel tax payment. The note also reiterates the presumption of innocence in criminal law. It records that where custody has continued for months, the case is largely documentary and electronic, trial is unlikely to finish soon, and there is no material of tampering, witness pressure, or non-cooperation, continued incarceration is unnecessary and bail may be granted on conditions.
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