Attachment and proclamation of sale of immovable property: limitation treated from financial year end; proclamation held within period, petition dismi...
Second Schedule attachment and validity of a post-notice mortgage: TRO cannot declare mortgage void ab initio; sale and appropriation allowed thereaft...
Limitation for final assessment under sections 144C and 153 treated jointly, resulting in quashing of timebarred assessment order and liberty to reviv...
Deductibility of settlement payments for securities law penalties and treatment of unexplained cash credits in share trading -- Tribunal upholds posit...
Threshold for allottee-initiated insolvency petitions in leasehold real estate upheld; petition admitted after possession letters deemed legally ineff...
Contravention of foreign exchange rules in crossborder diamond payments; appellate tribunal reduces one appellant's penalty for delay and proportional...
In a prosecution alleging fraudulent availment of ITC without actual movement of goods, the court assessed whether continued custody was justified in light of safeguards governing GST arrest and settled bail principles. Relying on binding precedent, it held that arrest must rest on recorded "reasons to believe" supported by material satisfying statutory conditions, and the arrestee must be furnished written grounds of arrest to enable an effective challenge and bail under constitutional and statutory protections. It further applied the test that severity alone cannot defeat bail and emphasised flight risk and witness tampering as key considerations. On the cumulative assessment, bail was granted subject to bonds and conditions. - HC
In a prosecution alleging fraudulent availment of ITC without actual movement of goods, the court assessed whether continued custody was justified in light of safeguards governing GST arrest and settled bail principles. Relying on binding precedent, it held that arrest must rest on recorded "reasons to believe" supported by material satisfying statutory conditions, and the arrestee must be furnished written grounds of arrest to enable an effective challenge and bail under constitutional and statutory protections. It further applied the test that severity alone cannot defeat bail and emphasised flight risk and witness tampering as key considerations. On the cumulative assessment, bail was granted subject to bonds and conditions. - HC
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