ESOP expenditure allowed as FMV difference; long-term capital gain issue sent back for collector rate determination; deferred income additions disallo...
Appeal allowed; impugned order quashed as regulator failed to prove nexus or manipulative scheme; sale genuine - s.12A(a)-(c), Regs 3(a)-(d),4(1),4(2)...
Appellant's ring-back tone service held OIDAR, taxable domestically for 01.07.2012-31.07.2016; liability confirmed, penalties vacated, remanded for re...
HC granted bail to the applicant accused of alleged GST evasion by purported availment of input tax credit through fabricated firms, involving purported evasion of approximately Rs.35 crore. The court noted the offences are triable by a Magistrate and carry a maximum sentence of five years; investigation is complete and complaint filed. Emphasizing that the prosecution case is documentary and electronic in nature with official ocular witnesses, the HC found minimal risk of tampering or influencing evidence and observed protracted trial prospects. Having regard to these factors and applicable higher-court precedent, the HC allowed the bail application subject to appropriate conditions to be imposed.
HC granted bail to the applicant accused of alleged GST evasion by purported availment of input tax credit through fabricated firms, involving purported evasion of approximately Rs.35 crore. The court noted the offences are triable by a Magistrate and carry a maximum sentence of five years; investigation is complete and complaint filed. Emphasizing that the prosecution case is documentary and electronic in nature with official ocular witnesses, the HC found minimal risk of tampering or influencing evidence and observed protracted trial prospects. Having regard to these factors and applicable higher-court precedent, the HC allowed the bail application subject to appropriate conditions to be imposed.
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