Development agreements require legal possession or effective enjoyment for capital gains transfer; permissive possession and deferred consideration de...
Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
HC rejected the petitioner's application for bail in a GST fraud case involving alleged creation of fictitious firms and issuance of fake invoices to pass on bogus ITC without actual supply of goods or services, constituting cognizable and non-bailable offences under s.132(1) and 132(5) of the CGST Act. On a prima facie evaluation, HC held the petitioner was not an innocent service provider but an active participant in an organized interstate gang, receiving illegal remuneration. Given the gravity of the offence, ongoing and wide-ranging investigation, and potential impact of release on effective investigation, HC found no ground to exercise discretion in favour of bail and dismissed the bail petition.
HC rejected the petitioner's application for bail in a GST fraud case involving alleged creation of fictitious firms and issuance of fake invoices to pass on bogus ITC without actual supply of goods or services, constituting cognizable and non-bailable offences under s.132(1) and 132(5) of the CGST Act. On a prima facie evaluation, HC held the petitioner was not an innocent service provider but an active participant in an organized interstate gang, receiving illegal remuneration. Given the gravity of the offence, ongoing and wide-ranging investigation, and potential impact of release on effective investigation, HC found no ground to exercise discretion in favour of bail and dismissed the bail petition.
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