Co-operative society's mandatory reserve and share capital fixed deposits with banks-interest treated as business income under 80P(2)(a)(iii) deductio...
Income tax reassessment reopening after four years on investigation tip, without s.147 proviso disclosure failure, struck down as borrowed satisfactio...
Regular bail under PMLA was sought by a woman accused allegedly involved in inducing victims to part with money, raising the issue whether continued judicial custody was warranted. The Court noted the long lapse between the alleged transactions and initiation of PMLA proceedings, that the principal accused was absconding, the applicant was not charge-sheeted for the predicate offence nor summoned in the related complaint, substantial restitution had already been made, and the investigation against her was complete with the prosecution complaint filed. Given likely protracted trial and absence of necessity for further custodial detention, regular bail was granted on bond and sureties subject to conditions. - HC
Regular bail under PMLA was sought by a woman accused allegedly involved in inducing victims to part with money, raising the issue whether continued judicial custody was warranted. The Court noted the long lapse between the alleged transactions and initiation of PMLA proceedings, that the principal accused was absconding, the applicant was not charge-sheeted for the predicate offence nor summoned in the related complaint, substantial restitution had already been made, and the investigation against her was complete with the prosecution complaint filed. Given likely protracted trial and absence of necessity for further custodial detention, regular bail was granted on bond and sureties subject to conditions. - HC
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