Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
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 
of 4805
Join Channel
TaxTMI 
