Section 10A and related deductions: Tribunal rejects separate-undertaking claim, but allows loss set-off, ESOP cost and foreign tax credit in principl...
Grant of anticipatory bail to an accused for alleged wrongful utilisation of input tax credit was ordered; custodial interrogation was declined because detention would adversely affect business and the alleged amount (~Rs.10 Crores) attracts a maximum five-year sentence, while compounding of offences remains available, so prosecution may be avoidable. Bail was permitted under the courts inherent powers subject to furnishing of bond and compliance with specified restrictive and cooperative conditions. The court noted double jeopardy concerns and recorded the possibility of compounding without directing custody.
Grant of anticipatory bail to an accused for alleged wrongful utilisation of input tax credit was ordered; custodial interrogation was declined because detention would adversely affect business and the alleged amount (~Rs.10 Crores) attracts a maximum five-year sentence, while compounding of offences remains available, so prosecution may be avoidable. Bail was permitted under the courts inherent powers subject to furnishing of bond and compliance with specified restrictive and cooperative conditions. The court noted double jeopardy concerns and recorded the possibility of compounding without directing custody.
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