Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
Employee conflict disclosures and investment restrictions expand with new recusal duties, post-employment limits, and compliance reporting requirement...
The HC found the arrest illegal due to procedural irregularities in a GST fraud investigation. The accused, facing charges under s.132 of GST Act for wrongful ITC utilization, was arrested hastily on December 22, 2024, at 7:55 am, despite a pending summons for December 30, 2024. The arrest memo, signed by Asst. Commissioner of State Tax, showed authorization obtained the same day of arrest. While the prosecution argued the case involved offenses punishable up to 5 years, the court determined the arrest was premature and procedurally flawed, particularly given an active summons and pending writ petition. The court ordered immediate release, declaring the arrest illegal and denying judicial custody.
The HC found the arrest illegal due to procedural irregularities in a GST fraud investigation. The accused, facing charges under s.132 of GST Act for wrongful ITC utilization, was arrested hastily on December 22, 2024, at 7:55 am, despite a pending summons for December 30, 2024. The arrest memo, signed by Asst. Commissioner of State Tax, showed authorization obtained the same day of arrest. While the prosecution argued the case involved offenses punishable up to 5 years, the court determined the arrest was premature and procedurally flawed, particularly given an active summons and pending writ petition. The court ordered immediate release, declaring the arrest illegal and denying judicial custody.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
