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Revisionary jurisdiction cannot reopen share capital assessments where adequate inquiry supports a permissible view and no independent error is establ...
Reassessment jurisdiction fails where unverified portal information is aggregated without examining the taxpayer's explanation or relevance of entries...
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Export valuation requires contemporaneous evidence; unrelated invoices cannot prove overvaluation, and dual penalties on firm and partner are impermis...
The High Court dismissed the application for pre-arrest bail u/s 135 of the Customs Act, 1962. The court found ample material showing the applicant's complicity in clandestine removal of goods from a public bonded warehouse. While acknowledging that statements of co-accused need corroboration, the court noted the strong prima facie case against the applicant as the key conspirator in an economic offense. Granting bail would prejudice effective investigation to uncover the fraud and those involved. The court emphasized the need for proper investigation to reveal the fraud and prevent harm to the economic fabric of society.
The High Court dismissed the application for pre-arrest bail u/s 135 of the Customs Act, 1962. The court found ample material showing the applicant's complicity in clandestine removal of goods from a public bonded warehouse. While acknowledging that statements of co-accused need corroboration, the court noted the strong prima facie case against the applicant as the key conspirator in an economic offense. Granting bail would prejudice effective investigation to uncover the fraud and those involved. The court emphasized the need for proper investigation to reveal the fraud and prevent harm to the economic fabric of society.
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