Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
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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