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...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
The High Court cancelled the bail granted to the respondent Gautam Garg, finding that the lower court had misconstrued the facts and legal position u/s 132 of the CGST Act. The Court held that the absence of material indicating the accused as the manager of the firms is not essential for prosecution u/s 132, which covers those who "cause to commit" offenses related to availing input tax credit without issuing invoices or supplying goods. The legislature amended Section 132 to catch hold of offenders enabling companies to avail input credit illegally. The Court found the respondent's arguments regarding accountability of only individuals engaged in management unsustainable and observed that while considering bail, courts should not delve into the legality of arrest unless there is a gross violation.
The High Court cancelled the bail granted to the respondent Gautam Garg, finding that the lower court had misconstrued the facts and legal position u/s 132 of the CGST Act. The Court held that the absence of material indicating the accused as the manager of the firms is not essential for prosecution u/s 132, which covers those who "cause to commit" offenses related to availing input tax credit without issuing invoices or supplying goods. The legislature amended Section 132 to catch hold of offenders enabling companies to avail input credit illegally. The Court found the respondent's arguments regarding accountability of only individuals engaged in management unsustainable and observed that while considering bail, courts should not delve into the legality of arrest unless there is a gross violation.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4780
Join Channel
TaxTMI 
