Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
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Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
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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