The appellant thus prosecuted the company and the three directors and prayed for appropriate punishment of imprisonment as well as direction to pay fine up to double the amount of the dishonored cheque.
Supreme Court stays Karnataka’s Rs. 317.5 crore VAT recovery notice to Antrix Corporation. New demand for 2008-2014 issued despite existing stay on previous period. Case listed for August.
Supreme Court quashes summons against pharmaceutical directors in a drug quality case, reiterating that general statements are insufficient to establish vicarious liability under the Drugs & Cosmetics Act.
Supreme Court acquits accused in a 1999 murder case, citing a flawed High Court reversal. A deep dive into the key judicial principles on appeals against acquittal.
India’s Supreme Court grants bail to Ashutosh Garg, accused of GST input tax fraud, citing nine months of custody and a five-year maximum sentence.
Supreme Court grants bail to Vishal Agarwal in a case involving alleged public exchequer loss. Bail approved as chargesheet filed and evidence is documentary.
Supreme Court clarifies powers for tax searches under Sec 132. It’s an administrative act; courts won’t weigh sufficiency of reasons, only check for bad faith.
Supreme Court rules 2015 amendment to Income Tax Act’s Section 153C, broadening third-party assessment, is not retrospective; applies only to searches after June 1, 2015.
The Supreme Court clarifies that the six-year tax assessment period for third parties, whose documents are seized, starts from the date their AO receives materials, not the original search date.
The language of the Circular does not expand or alter the scope of the previous Notifications, but cements the claim of the merchant exporters, who were entitled to receive the benefit of AIR customs duty drawback since 2007.
