Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
GST - Highlights / Catch Notes

Home Highlights November 2024 Year 2024 This

High Court dismissed petition seeking quashing of FIR related to ...


Cement firm boss accused of siphoning off funds, faces dual FIRs for tax evasion & embezzlement.

Case Laws     GST

November 9, 2024

High Court dismissed petition seeking quashing of FIR related to clandestine manufacture and supply of cement clinker and cement without invoices and accounting. Court held second FIR maintainable as offense under GST Act would not cover misappropriation of company funds for personal use resulting in wrongful loss. Allegations in second FIR pertain to misappropriation of company funds, distinct from allegations in first FIR regarding document forgery. Complainant having interest in company has locus standi to initiate proceedings. High Court should be slow in interfering with criminal proceedings at initial stage unless complaint discloses no offense or prosecution barred. Powers u/s 482 CrPC wide but require caution in exercise. Investigation at nascent stage, second FIR based on different facts not covered in first FIR, hence maintainable despite some overlap.

View Source

 


 

You may also like:

  1. Grant of anticipatory bail - money laundering - siphoning of funds - Apparently, the money that is alleged to be siphoned off is public money and the offence is grave in...

  2. Grant of Bail - Input Tax Credit - presence of ground of parity - GST Evasion - Here in this case as prayed on behalf of accused to grant bail on the ground of parity...

  3. Dishonor of Cheque - insufficient funds - validity of FIR by the Accused against the complainant - when the impugned FIR is nothing but an abuse of process of law and to...

  4. Dishonor of Cheque - Insufficient Balance - offences by companies - Vicaricious liability - In this case there are no averments in the complaint that the...

  5. Common partners in two firms – Set off of losses incurred by one firm from another - both the firms have separate channels, be it of constitution or maintenance of...

  6. Dishonor of Cheque - insufficiency of funds - non - impleading of the partnership firm as accused in the complaint case - it was imperative on the part of the...

  7. Registration of FIR without any specific order under GST - Tax evasion - bogus firms - preparing and issuing false documents / invoices - The submission of the learned...

  8. Input tax credit - KVAT - a manufacture of cement, is entitled to claim input tax credit in respect of the tax paid by it on the purchase of cement prior to its...

  9. Tax planning versus Tax evasion - The Assessing Officer cannot disregard a transaction just because it results in a tax advantage to the assessee. Just as much as we...

  10. Dishonour of Cheque - Seeking setting aside of summoning order - vicarious liability on partner of a firm - The name of the petitioner is conspicuously not mentioned as...

  11. Seeking grant of anticipatory bail - shell firms/entities - tax evasion - Merely, because statement of the accused has to be recorded, is not a reason for declining pre...

  12. A public listed company (RHFL) was involved in siphoning off funds by structuring them as 'loans' to creditworthy conduit borrowers, resulting in disproportionate...

  13. SEBI amended Alternative Investment Funds (AIF) Regulations to introduce a new Chapter III-D for "migrated venture capital funds" - funds previously registered as...

  14. Tax Incentives to International Financial Services Centre - (i) Time limit for exemption on Transfer of assets of the original fund, or its wholly owned SPV to a...

  15. Seeking grant of bail - Legality of arrest without assessing tax liability - Claiming fake input tax credits, without actually supplying goods - The High Court observed...

 

Quick Updates:Latest Updates