Appellate enhancement limits protect against new income sources, while documented credits and prior-year investments resist unexplained-income additio...
Capital-gains exemption for charitable trusts extends to qualifying fixed deposits, while unrecoverable TDS write-offs may constitute income applicati...
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DSC dismisses anticipatory bail application involving systematic tax credit fraud. Investigation revealed a complex nexus of fictitious firms (M/s Khwaish Enterprise, M/s Sunrise Enterprises, M/s AC Goel Tradelinks) systematically generating fake Input Tax Credit (ITC) without actual goods supply. Forensic analysis of GSTR-2A records demonstrated over 90% fraudulent transactions, with cumulative fake ITC estimated at approximately Rs. 15 crores. Key accused, who failed to cooperate with investigation despite multiple summons, was determined to be a critical syndicate member. Court found substantial evidence of deliberate tax evasion and economic fraud, consequently rejecting anticipatory bail application.
DSC dismisses anticipatory bail application involving systematic tax credit fraud. Investigation revealed a complex nexus of fictitious firms (M/s Khwaish Enterprise, M/s Sunrise Enterprises, M/s AC Goel Tradelinks) systematically generating fake Input Tax Credit (ITC) without actual goods supply. Forensic analysis of GSTR-2A records demonstrated over 90% fraudulent transactions, with cumulative fake ITC estimated at approximately Rs. 15 crores. Key accused, who failed to cooperate with investigation despite multiple summons, was determined to be a critical syndicate member. Court found substantial evidence of deliberate tax evasion and economic fraud, consequently rejecting anticipatory bail application.
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TaxTMI 
TaxTMI 
