Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return filing...
Dispute Resolution Panel objections must reach both prescribed forums; otherwise assessment may proceed and statutory appeal remains the proper remedy...
Political contribution deductions require recipient party compliance with contribution-reporting conditions; banking-channel donations alone do not qu...
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The HC granted regular bail to the applicants accused of creating and managing fake firms to wrongfully claim input tax credit. The offences are triable by a Magistrate with a maximum punishment of five years' imprisonment. The applicants had already spent approximately seven months in judicial custody. The investigation was complete, but charges had not yet been framed, and the trial had not commenced. Prosecution witnesses were official and unlikely to be influenced. Considering the trial's probable delay and the lack of utility in continued detention, the court allowed bail without expressing any opinion on the case's merits. The applicants were ordered released upon furnishing bail and surety bonds to the trial court's satisfaction.
The HC granted regular bail to the applicants accused of creating and managing fake firms to wrongfully claim input tax credit. The offences are triable by a Magistrate with a maximum punishment of five years' imprisonment. The applicants had already spent approximately seven months in judicial custody. The investigation was complete, but charges had not yet been framed, and the trial had not commenced. Prosecution witnesses were official and unlikely to be influenced. Considering the trial's probable delay and the lack of utility in continued detention, the court allowed bail without expressing any opinion on the case's merits. The applicants were ordered released upon furnishing bail and surety bonds to the trial court's satisfaction.
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