Development agreements require legal possession or effective enjoyment for capital gains transfer; permissive possession and deferred consideration de...
Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
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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