Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
The DSC dismissed the first regular bail application of the accused under Sections 132(1)(b), 132(1)(c), and 132(1)(i) of CGST Act, 2017. The accused was identified as the mastermind in defrauding the government exchequer by creating and operating multiple firms, issuing fake tax invoices for Copper Scrap without actual supply of goods, and fraudulently availing Input Tax Credit. The court determined this constituted a grave economic offense with GST evasion amounting to Rs. 59,00,98,178/-. Considering the gravity of the offense, ongoing investigation, risk of evidence tampering, potential witness influence, and flight risk, the court found it inappropriate to grant bail at this stage.
The DSC dismissed the first regular bail application of the accused under Sections 132(1)(b), 132(1)(c), and 132(1)(i) of CGST Act, 2017. The accused was identified as the mastermind in defrauding the government exchequer by creating and operating multiple firms, issuing fake tax invoices for Copper Scrap without actual supply of goods, and fraudulently availing Input Tax Credit. The court determined this constituted a grave economic offense with GST evasion amounting to Rs. 59,00,98,178/-. Considering the gravity of the offense, ongoing investigation, risk of evidence tampering, potential witness influence, and flight risk, the court found it inappropriate to grant bail at this stage.
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TaxTMI 
TaxTMI 
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