Appeal allows marketing payments as deductible business expenses under Sec.37; director pay retained; R&D deductible from certificate date under Sec.3...
Registration under s.12AB upheld; CIT(Exemptions) exceeded jurisdiction by deciding taxability instead of preliminary verification and registration di...
Dependent Agent PE unresolved for lack of factual inquiry; arm's-length distribution accepted; royalty claim rejected; 15% refund interest (Section 24...
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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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