Unlawful outward remittances via Hawala using proforma invoices and electronic records proved; documents admitted, directors penalised, penalties redu...
Attachment of equivalent-value properties as proceeds of crime upheld; preventive attachment order and confirmation sustained; no independent ED reinv...
Broker trading-system "technical glitch" redefinition and narrowed incident-reporting regime for large IBT/STWT brokers requiring 2-hr notice and 14-w...
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Bail was sought in prosecution for alleged wrongful availment of input tax credit through bogus invoices from non-existent suppliers under Section 132 CGST Act. Applying settled principles that arrest must rest on recorded "reasons to believe" based on material satisfying statutory thresholds, and that bail is the rule with incarceration an exception, the Court noted that the allegations are documentary in nature, the maximum punishment is limited, the matter is triable by a Magistrate, the accused had spent substantial time in custody, and there were no criminal antecedents; denial of bail merely due to offence severity would offend Article 21 considerations of speedy trial. Bail was granted on bond and conditions. - HC
Bail was sought in prosecution for alleged wrongful availment of input tax credit through bogus invoices from non-existent suppliers under Section 132 CGST Act. Applying settled principles that arrest must rest on recorded "reasons to believe" based on material satisfying statutory thresholds, and that bail is the rule with incarceration an exception, the Court noted that the allegations are documentary in nature, the maximum punishment is limited, the matter is triable by a Magistrate, the accused had spent substantial time in custody, and there were no criminal antecedents; denial of bail merely due to offence severity would offend Article 21 considerations of speedy trial. Bail was granted on bond and conditions. - HC
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