Transfer pricing comparables and operating income principles applied to software development services, with exclusions, inclusions, and tax credit ver...
Transfer pricing on performance guarantees and overdue receivables deleted where warranty obligations were embedded and working capital adjustment alr...
The HC granted regular bail to the applicant accused of availing ineligible Input Tax Credit of Rs. 31.18 crores based on fake invoices from non-operational firms. The Court noted that the prosecution's case relied on documentary evidence already filed in tax returns, and the applicant's business account had been released after initial attachment. Considering that the alleged offenses carry maximum punishment of five years, are triable by Magistrate, and the applicant had already spent six months in judicial custody, the Court concluded that further detention would serve no useful purpose. The prosecution witnesses were official witnesses with minimal risk of tampering. Bail was granted subject to conditions.
The HC granted regular bail to the applicant accused of availing ineligible Input Tax Credit of Rs. 31.18 crores based on fake invoices from non-operational firms. The Court noted that the prosecution's case relied on documentary evidence already filed in tax returns, and the applicant's business account had been released after initial attachment. Considering that the alleged offenses carry maximum punishment of five years, are triable by Magistrate, and the applicant had already spent six months in judicial custody, the Court concluded that further detention would serve no useful purpose. The prosecution witnesses were official witnesses with minimal risk of tampering. Bail was granted subject to conditions.
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