https://www.taxtmi.com/caselaws?id=426092 The court deemed the Look Out Circular (LOC) issued against the petitioners as unjustified and unlawful due to lack of concrete evidence supporting the allegations of non-compoundable offenses and flight risk. The court emphasized the petitioners' cooperation with the investigation and their fundamental right to travel abroad. It highlighted non-compliance with guidelines for issuing LOCs and imposed conditions for the petitioners' overseas travel. The writ petitions were successful, and the LOC was declared invalid, with no costs awarded to either party. en-us Mon, 25 Jul 2022 00:00:00 +0530 Mon, 08 Aug 2022 09:09:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426092 The court deemed the Look Out Circular (LOC) issued against the petitioners as unjustified and unlawful due to lack of concrete evidence supporting the allegations of non-compoundable offenses and flight risk. The court emphasized the petitioners' cooperation with the investigation and their fundamental right to travel abroad. It highlighted non-compliance with guidelines for issuing LOCs and imposed conditions for the petitioners' overseas travel. The writ petitions were successful, and the LOC was declared invalid, with no costs awarded to either party. Case-Laws Companies Law Mon, 25 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426092