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Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
A prima facie money trail traced through forensic audit and fund movements showed diversion of company funds through fictitious procurement transactions and routing to vendors before transfer to the appellants, their family members and related entities. The Tribunal held that this material, together with the statutory burden on the appellants, required proof of a lawful source; mere assertions of consultancy charges, salary or rental income were insufficient without supporting evidence. The retention and freezing of the bank accounts, mutual funds, DEMAT accounts and other movable properties were therefore upheld as proceeds of crime, subject to the final outcome of the trial.
A prima facie money trail traced through forensic audit and fund movements showed diversion of company funds through fictitious procurement transactions and routing to vendors before transfer to the appellants, their family members and related entities. The Tribunal held that this material, together with the statutory burden on the appellants, required proof of a lawful source; mere assertions of consultancy charges, salary or rental income were insufficient without supporting evidence. The retention and freezing of the bank accounts, mutual funds, DEMAT accounts and other movable properties were therefore upheld as proceeds of crime, subject to the final outcome of the trial.
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