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...
In HC, the applicants (anonymized) were granted regular bail in a prosecution alleging fraudulent ITC claims on bogus invoices; the court held the offences are triable by a magistrate with a maximum sentence of five years, applicants had been in custody for over four months, the charge-sheet was filed but charges not yet framed and trial not imminent, rendering further detention unnecessary. The court observed that the prosecution case rests on documentary evidence and confessional statements recorded under section 70 of the CGST Act, whose admissibility must be tested at trial, and noted parity with co-accused on bail. Bail granted subject to furnishing requisite bail and surety bonds to the trial court.
In HC, the applicants (anonymized) were granted regular bail in a prosecution alleging fraudulent ITC claims on bogus invoices; the court held the offences are triable by a magistrate with a maximum sentence of five years, applicants had been in custody for over four months, the charge-sheet was filed but charges not yet framed and trial not imminent, rendering further detention unnecessary. The court observed that the prosecution case rests on documentary evidence and confessional statements recorded under section 70 of the CGST Act, whose admissibility must be tested at trial, and noted parity with co-accused on bail. Bail granted subject to furnishing requisite bail and surety bonds to the trial court.
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