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Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
The applicant sought regular bail, accused of availing wrongful input tax credit benefits worth Rs.15.58 crores through fictitious transactions with 38 firms. Considering the nature of allegations in the FIR, punishment of 5 years, arrest in June 2024, and attachment of applicant's firm assets, the High Court allowed bail upon executing a bond of Rs.10,000 with one surety of like amount and subject to conditions by the trial court u/s 439 of the Criminal Procedure Code, 1973.
The applicant sought regular bail, accused of availing wrongful input tax credit benefits worth Rs.15.58 crores through fictitious transactions with 38 firms. Considering the nature of allegations in the FIR, punishment of 5 years, arrest in June 2024, and attachment of applicant's firm assets, the High Court allowed bail upon executing a bond of Rs.10,000 with one surety of like amount and subject to conditions by the trial court u/s 439 of the Criminal Procedure Code, 1973.
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