Service of notice and contractual debt acknowledgment preserved insolvency admission against a corporate guarantor despite limitation and natural just...
Original works exemption excludes standalone boulder transportation, leaving subcontracted railway-project transport services subject to service tax l...
Annual production capacity determinations excluding stenter galleries support refunds for unconstitutional excise levies without an unjust-enrichment ...
Vicarious liability for cheque dishonour requires specific allegations of responsibility and cheque signatory; generic director allegations cannot sus...
A High Court held that money-laundering under Section 3 of the PMLA is an independent offence, but prosecution still requires prima facie material showing proceeds of crime derived from a scheduled offence and the accused's involvement in a connected process or activity. Where the predicate investigation had already found that the petitioner was not a beneficiary and no independent material showed tainted funds, the PMLA case could not rest on assumption. The Court also held that a co-accused's Section 50 statement could not, by itself, found the prosecution, and that the warehouse-receipt transactions were not shown to be sham. Continuation of proceedings against the petitioner was quashed as abuse of process.
A High Court held that money-laundering under Section 3 of the PMLA is an independent offence, but prosecution still requires prima facie material showing proceeds of crime derived from a scheduled offence and the accused's involvement in a connected process or activity. Where the predicate investigation had already found that the petitioner was not a beneficiary and no independent material showed tainted funds, the PMLA case could not rest on assumption. The Court also held that a co-accused's Section 50 statement could not, by itself, found the prosecution, and that the warehouse-receipt transactions were not shown to be sham. Continuation of proceedings against the petitioner was quashed as abuse of process.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4816 
Join Channel 
