Advance-ruling mechanism governs pending GST classification, exemption and taxability disputes, limiting writ review once the specialised forum functi...
Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
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.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4807
Join Channel
TaxTMI 
