Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
DSC dismissed the bail application of the accused in a GST fraud case involving creation and operation of 12 fake firms for fraudulent Input Tax Credit (ITC) claims. The accused was identified as the mastermind who defrauded the government exchequer of approximately Rs. 53.03 Crores through fake billing without actual supply of goods. The court determined this constituted a grave economic offense affecting public interest, with ongoing investigation. The court found substantial flight risk and potential for evidence tampering if bail were granted, given the accused's central role in the sophisticated tax evasion scheme involving multiple phantom businesses and fraudulent documentation.
DSC dismissed the bail application of the accused in a GST fraud case involving creation and operation of 12 fake firms for fraudulent Input Tax Credit (ITC) claims. The accused was identified as the mastermind who defrauded the government exchequer of approximately Rs. 53.03 Crores through fake billing without actual supply of goods. The court determined this constituted a grave economic offense affecting public interest, with ongoing investigation. The court found substantial flight risk and potential for evidence tampering if bail were granted, given the accused's central role in the sophisticated tax evasion scheme involving multiple phantom businesses and fraudulent documentation.
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