Transfer pricing requires evidence for AMP transactions, functionally reliable comparables, and appropriate aggregation or Berry Ratio benchmarking me...
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...
Statutory sanction for delayed reassessment requires approval from the prescribed authority; approval by an inferior authority invalidates jurisdictio...
Transfer pricing margin adjustments require matching treatment of non-operating income and related costs, with comparability issues reconsidered on ev...
Preliminary-expense amortisation and MAT exempt-income adjustments prevailed, while trademark costs and managerial remuneration require fresh verifica...
Export valuation requires contemporaneous evidence; unrelated invoices cannot prove overvaluation, and dual penalties on firm and partner are impermis...
In the present case involving economic offenses related to GST fraud, the court denied bail to the applicants. The applicants were found to be connected with Sanjay Dhingra in transactions involving fake GST firms registered using stolen PAN and Aadhaar details. The money trail and financial transactions revealed unexplained huge amounts being deposited into the applicants' accounts, indicating their involvement in illegal activities. The court noted that such fraudsters set up companies only on paper to generate fake transactions and claim Input Tax Credit, abandoning them later. Economic offenses like large-scale fraud, money laundering, and corruption are viewed seriously as they affect the economic fabric of society. The court considered factors like the nature of accusations, evidence, severity of punishment, character of the accused, possibility of securing presence at trial, apprehension of witness tampering, and public interest. Precedents are not the sole basis for granting or refusing bail, and each case is considered on its specific facts and circumstances. Based on the evidence and submissions, the court found it not a fit case for granting bail and dismissed the application.
In the present case involving economic offenses related to GST fraud, the court denied bail to the applicants. The applicants were found to be connected with Sanjay Dhingra in transactions involving fake GST firms registered using stolen PAN and Aadhaar details. The money trail and financial transactions revealed unexplained huge amounts being deposited into the applicants' accounts, indicating their involvement in illegal activities. The court noted that such fraudsters set up companies only on paper to generate fake transactions and claim Input Tax Credit, abandoning them later. Economic offenses like large-scale fraud, money laundering, and corruption are viewed seriously as they affect the economic fabric of society. The court considered factors like the nature of accusations, evidence, severity of punishment, character of the accused, possibility of securing presence at trial, apprehension of witness tampering, and public interest. Precedents are not the sole basis for granting or refusing bail, and each case is considered on its specific facts and circumstances. Based on the evidence and submissions, the court found it not a fit case for granting bail and dismissed the application.
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