Genuineness of investment evidence determines LTCG entitlement; non specific regulatory reports cannot displace transaction specific documentary proof...
Import entitlement for repairs and after sales service extends to authorised service agents; provisional release allowed subject to bond and quantitat...
Criminal prosecution under ss. 276C(1) and 277 of the Income-tax Act was examined where the complaint was founded on alleged concealment corresponding to a penalty for concealed income. Since the penalty order forming the very basis of the prosecution had been set aside by the Tribunal and remained undisturbed in further appellate proceedings, the substratum of the complaint ceased to exist. Applying the principle that when concealment findings/penalty are annulled the prosecution cannot survive, continuation of the criminal trial would be an empty formality. Consequently, the complaint case and all consequential proceedings were quashed. - HC
Criminal prosecution under ss. 276C(1) and 277 of the Income-tax Act was examined where the complaint was founded on alleged concealment corresponding to a penalty for concealed income. Since the penalty order forming the very basis of the prosecution had been set aside by the Tribunal and remained undisturbed in further appellate proceedings, the substratum of the complaint ceased to exist. Applying the principle that when concealment findings/penalty are annulled the prosecution cannot survive, continuation of the criminal trial would be an empty formality. Consequently, the complaint case and all consequential proceedings were quashed. - HC
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