Reversal of input tax credit in proportion to exempt supply: specificity of show-cause notice required; order set aside, fresh proceedings allowed wit...
Benami transaction and beneficial ownership: documentary and circumstantial evidence show payors were true beneficiaries, resulting in PBPTA consequen...
In a second application for regular bail in an SFIO prosecution alleging diversion of cooperative society funds and offences including fraud under the Companies Act, the court considered whether prolonged incarceration and delay in trial justified relaxation of the twin conditions under s.212(6). While acknowledging that such conditions may be diluted where incarceration is unduly prolonged, it held that a successive bail plea must still demonstrate a substantial change in circumstances. Given the gravity of allegations (including large-scale siphoning), absence of substantiation of claimed repayment, and the prior reasoned rejection of bail affirmed by the apex court, no such change was shown; bail was refused and the trial court was directed to expedite the trial. - HC
In a second application for regular bail in an SFIO prosecution alleging diversion of cooperative society funds and offences including fraud under the Companies Act, the court considered whether prolonged incarceration and delay in trial justified relaxation of the twin conditions under s.212(6). While acknowledging that such conditions may be diluted where incarceration is unduly prolonged, it held that a successive bail plea must still demonstrate a substantial change in circumstances. Given the gravity of allegations (including large-scale siphoning), absence of substantiation of claimed repayment, and the prior reasoned rejection of bail affirmed by the apex court, no such change was shown; bail was refused and the trial court was directed to expedite the trial. - HC
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4817 
Join Channel 
