Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
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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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