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...
The HC granted anticipatory bail to the petitioners, chartered accountants and statutory auditors, holding there is no prima facie evidence of a criminal conspiracy or receipt of undue favours that would justify custodial interrogation; discrepancies, at most, indicate dereliction of professional duty not warranting pre-trial detention. The court observed no disproportionate remuneration or motive linking auditors to loan procurement or siphoning, noted investigatory failures to recover alleged proceeds, and applied parity with co-accused already granted bail. Anticipatory bail is allowed subject to furnishing personal and surety bonds to the satisfaction of the trial court within 15 days and compliance with all bond conditions.
The HC granted anticipatory bail to the petitioners, chartered accountants and statutory auditors, holding there is no prima facie evidence of a criminal conspiracy or receipt of undue favours that would justify custodial interrogation; discrepancies, at most, indicate dereliction of professional duty not warranting pre-trial detention. The court observed no disproportionate remuneration or motive linking auditors to loan procurement or siphoning, noted investigatory failures to recover alleged proceeds, and applied parity with co-accused already granted bail. Anticipatory bail is allowed subject to furnishing personal and surety bonds to the satisfaction of the trial court within 15 days and compliance with all bond conditions.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4824 
Join Channel 
