Purposive interpretation of residential house exemption: unregistered purchase agreement alone does not defeat relief, but investment must be verified...
The HC allowed the applicant's regular bail application in a prosecution alleging fraudulent procurement of input tax credit via fictitious transactions, noting investigation is complete and a complaint is filed. The offence, punishable by up to five years' imprisonment, led to the applicant's arrest in December 2024 and continued custody; notwithstanding the Sessions Court's earlier denial, the HC, having perused the FIR and police papers, found bail exigible in view of the stage of proceedings, nature of allegations, and the applicant's role. Bail is granted subject to execution of a bail bond before the trial court having jurisdiction, which may, in its discretion, permit time to furnish a solvency certificate; petition disposed.
The HC allowed the applicant's regular bail application in a prosecution alleging fraudulent procurement of input tax credit via fictitious transactions, noting investigation is complete and a complaint is filed. The offence, punishable by up to five years' imprisonment, led to the applicant's arrest in December 2024 and continued custody; notwithstanding the Sessions Court's earlier denial, the HC, having perused the FIR and police papers, found bail exigible in view of the stage of proceedings, nature of allegations, and the applicant's role. Bail is granted subject to execution of a bail bond before the trial court having jurisdiction, which may, in its discretion, permit time to furnish a solvency certificate; petition disposed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4819 
Join Channel 
