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...
HC denied bail in GST fraud case where petitioner allegedly availed fraudulent Input Tax Credit worth 10.67 crores through fictitious firms. Evidence included seized fake rubber stamps, fabricated E-bills, and transport company testimony confirming route discrepancies. Court distinguished this case from Prabir Purkayastha and Pankaj Bansal precedents regarding arrest procedures under PMLA, noting different statutory requirements under GST Act. Following Y.S. Jaganmohan Reddy principle that economic offenses warrant stringent treatment, HC found prima facie evidence of deliberate fraud through sham bills and non-existent firms sufficient to deny bail. Court emphasized gravity of economic offenses affecting national economic fabric.
HC denied bail in GST fraud case where petitioner allegedly availed fraudulent Input Tax Credit worth 10.67 crores through fictitious firms. Evidence included seized fake rubber stamps, fabricated E-bills, and transport company testimony confirming route discrepancies. Court distinguished this case from Prabir Purkayastha and Pankaj Bansal precedents regarding arrest procedures under PMLA, noting different statutory requirements under GST Act. Following Y.S. Jaganmohan Reddy principle that economic offenses warrant stringent treatment, HC found prima facie evidence of deliberate fraud through sham bills and non-existent firms sufficient to deny bail. Court emphasized gravity of economic offenses affecting national economic fabric.
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