Online bond platforms may offer overseas-regulated products and tax-specific bonds subject to disclosures, compliance safeguards and revised complianc...
Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
The HC dismissed the petition and refused grant of pre-arrest bail in respect of summons issued by respondent No.3 under section 70 of the CGST Act, concluding that the petitioner faces specific and serious allegations of operating a fictitious firm, facilitating fraudulent input tax credit of approximately Rs. 29.4 crore, preparing false e-way bills, providing incorrect bank details and orchestrating inter-account fund rotation to evade revenue, and furnishing fictitious supplier details. The Court found the inquiry to be at a nascent stage, the petitioner non-cooperative, and a substantial revenue loss alleged; it held there is a real risk of misuse of pre-arrest bail enabling evasion of custodial interrogation, tampering with evidence or manipulation of records, warranting dismissal.
The HC dismissed the petition and refused grant of pre-arrest bail in respect of summons issued by respondent No.3 under section 70 of the CGST Act, concluding that the petitioner faces specific and serious allegations of operating a fictitious firm, facilitating fraudulent input tax credit of approximately Rs. 29.4 crore, preparing false e-way bills, providing incorrect bank details and orchestrating inter-account fund rotation to evade revenue, and furnishing fictitious supplier details. The Court found the inquiry to be at a nascent stage, the petitioner non-cooperative, and a substantial revenue loss alleged; it held there is a real risk of misuse of pre-arrest bail enabling evasion of custodial interrogation, tampering with evidence or manipulation of records, warranting dismissal.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4801
Join Channel
TaxTMI 
