Explained Investment Sources: documented gifts and traceable salary savings supported deletion of additions for property and mutual-fund SIP investmen...
Internal comparable pricing supports arm's-length interest on compulsorily convertible debentures, preventing their recharacterisation as equity for t...
Nominee director protection shields independent financial-institution appointees from criminal liability where they lack involvement in deposit defaul...
HC denied pre-arrest bail application involving fraudulent Input Tax Credit (ITC) claims. Despite petitioner's partial cooperation with investigating authorities and appearing after interim bail, the court rejected the anticipatory bail. The court noted the prima facie evidence of ineligible ITC amounting to Rs. 3.42 Crores, which is below the Rs. 5 Crores threshold. The application was deemed non-maintainable, with a directive for the petitioner to fully cooperate in the ongoing investigation. The bailable nature of the offense and absence of immediate arrest risk were key considerations in the court's reasoning.
HC denied pre-arrest bail application involving fraudulent Input Tax Credit (ITC) claims. Despite petitioner's partial cooperation with investigating authorities and appearing after interim bail, the court rejected the anticipatory bail. The court noted the prima facie evidence of ineligible ITC amounting to Rs. 3.42 Crores, which is below the Rs. 5 Crores threshold. The application was deemed non-maintainable, with a directive for the petitioner to fully cooperate in the ongoing investigation. The bailable nature of the offense and absence of immediate arrest risk were key considerations in the court's reasoning.
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TaxTMI 
TaxTMI 
of 4883 
