Windmill commissioning evidence supported higher depreciation where grid connection and electricity generation proved operational use before the relev...
Pharmaceutical promotion and transfer-pricing comparability principles limited disallowances, while uncorroborated search allegations and unsupported ...
Business expenditure substantiation supports scrap credits, statutory payments and expense claims, while depreciation requires proof of actual busines...
HC denied bail in tax fraud case involving fraudulent Input Tax Credit (ITC) exceeding Rs. 11.97 crore. Despite petitioners' claims of being permanent residents, the court found substantial evidence of systematic tax evasion under CGST Act Sections 132(1)(b), 132(1)(c), and 132(1)(f). The court emphasized the potential risk to investigation process beyond physical disappearance, noting the ability to manipulate evidence and procedural systems. Given the significant public revenue implications and prima facie documentary evidence of fraudulent practices, the bail applications were dismissed, prioritizing the integrity of the ongoing financial investigation.
HC denied bail in tax fraud case involving fraudulent Input Tax Credit (ITC) exceeding Rs. 11.97 crore. Despite petitioners' claims of being permanent residents, the court found substantial evidence of systematic tax evasion under CGST Act Sections 132(1)(b), 132(1)(c), and 132(1)(f). The court emphasized the potential risk to investigation process beyond physical disappearance, noting the ability to manipulate evidence and procedural systems. Given the significant public revenue implications and prima facie documentary evidence of fraudulent practices, the bail applications were dismissed, prioritizing the integrity of the ongoing financial investigation.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4803
Join Channel
TaxTMI 
