Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
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The DSC dismissed the bail application of the accused, a key partner of the manufacturing firm, arrested under Section 69 of the CGST Act for clandestine supply of goods without invoicing and fraudulent availing of ITC. Investigation revealed extensive cash transactions amounting to approximately Rs. 70 crore, misuse of input tax credit exceeding Rs. 9.32 crore, and GST evasion of Rs. 57.82 lakh. The accused confessed to the offences, including receipt of cash payments and payment of commission for fraudulent invoices. Given the absence of a charge sheet, the likelihood of evidence tampering, witness influence, and risk of flight, the court found bail inappropriate. Considering the gravity of the economic offences and established legal principles, the accused was denied bail to prevent obstruction of justice and ensure accountability.
The DSC dismissed the bail application of the accused, a key partner of the manufacturing firm, arrested under Section 69 of the CGST Act for clandestine supply of goods without invoicing and fraudulent availing of ITC. Investigation revealed extensive cash transactions amounting to approximately Rs. 70 crore, misuse of input tax credit exceeding Rs. 9.32 crore, and GST evasion of Rs. 57.82 lakh. The accused confessed to the offences, including receipt of cash payments and payment of commission for fraudulent invoices. Given the absence of a charge sheet, the likelihood of evidence tampering, witness influence, and risk of flight, the court found bail inappropriate. Considering the gravity of the economic offences and established legal principles, the accused was denied bail to prevent obstruction of justice and ensure accountability.
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