Tax deduction compliance and payee income recognition govern consultancy disallowance, while no exempt income prevents related expenditure disallowanc...
Derivative abetment liability fails when correctly declared imported components establish no underlying improper importation by the principal importer...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return filing...
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The HC allowed the petitioner's regular bail application, observing that alleged offences of fraudulent availment/utilization of Input Tax Credit involve statutory punishments attracting imprisonment up to five years but are compoundable; liability for exact tax evasion remains to be determined by assessment/adjudication. The court found no justification for continued detention where no custodial interrogation was claimed and principal evidence is documentary/electronic, reducing risk of witness tampering. The petitioner, who had been in custody, was ordered released on furnishing personal bonds with two solvent sureties in like amount to the satisfaction of the concerned court/Duty Magistrate and subject to such conditions as the releasing authority may impose.
The HC allowed the petitioner's regular bail application, observing that alleged offences of fraudulent availment/utilization of Input Tax Credit involve statutory punishments attracting imprisonment up to five years but are compoundable; liability for exact tax evasion remains to be determined by assessment/adjudication. The court found no justification for continued detention where no custodial interrogation was claimed and principal evidence is documentary/electronic, reducing risk of witness tampering. The petitioner, who had been in custody, was ordered released on furnishing personal bonds with two solvent sureties in like amount to the satisfaction of the concerned court/Duty Magistrate and subject to such conditions as the releasing authority may impose.
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