Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
The court granted regular bail to the petitioner in a case involving allegations of fraudulent claim of Input Tax Credit (ITC) and furnishing fake GST certificate for opening a bank account. The first allegation pertained to claiming ITC of Rs. 3,65,23,076/- without the corresponding tax being deposited by the supplying firms. The court held that prosecution u/s 132 of the CGST Act for fraudulently obtaining refund requires prior sanction from the Commissioner. Regarding the second allegation of using a fake GST certificate to open a bank account with transactions of Rs. 196 crores, the court observed a lack of evidence on whether the petitioner cheated anyone. As the case is triable by a Magistrate and based on documentary evidence, keeping the petitioner in custody would serve no purpose. The petitioner was granted regular bail upon furnishing bail bonds/surety bonds of Rs. 10,00,000/- with conditions imposed by the trial court.
The court granted regular bail to the petitioner in a case involving allegations of fraudulent claim of Input Tax Credit (ITC) and furnishing fake GST certificate for opening a bank account. The first allegation pertained to claiming ITC of Rs. 3,65,23,076/- without the corresponding tax being deposited by the supplying firms. The court held that prosecution u/s 132 of the CGST Act for fraudulently obtaining refund requires prior sanction from the Commissioner. Regarding the second allegation of using a fake GST certificate to open a bank account with transactions of Rs. 196 crores, the court observed a lack of evidence on whether the petitioner cheated anyone. As the case is triable by a Magistrate and based on documentary evidence, keeping the petitioner in custody would serve no purpose. The petitioner was granted regular bail upon furnishing bail bonds/surety bonds of Rs. 10,00,000/- with conditions imposed by the trial court.
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