https://www.taxtmi.com/caselaws?id=449095 Transfer of investigation to a special agency is an exceptional judicial measure, available only on strong prima facie material showing bias, wilful inaction or a real risk of failure of justice. On the material presented, the court found that regulatory authorities had already initiated inspections and special audit processes under the relevant company and housing finance frameworks, and that the allegations of fund diversion and round-tripping rested mainly on newspaper reports, public-domain material and unverified assertions. As a result, extraordinary judicial interference was declined and no direction for SIT transfer or further supersession of the statutory process was warranted. en-us Fri, 02 Feb 2024 00:00:00 +0530 Mon, 05 Feb 2024 15:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449095 Transfer of investigation to a special agency is an exceptional judicial measure, available only on strong prima facie material showing bias, wilful inaction or a real risk of failure of justice. On the material presented, the court found that regulatory authorities had already initiated inspections and special audit processes under the relevant company and housing finance frameworks, and that the allegations of fund diversion and round-tripping rested mainly on newspaper reports, public-domain material and unverified assertions. As a result, extraordinary judicial interference was declined and no direction for SIT transfer or further supersession of the statutory process was warranted. Case-Laws Indian Laws Fri, 02 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449095