Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
The AT held that enhanced compensation fraudulently received after the claimants' own enhancement proceedings had failed constituted proceeds of crime, and that later possession and projection of that money as untainted property fell within money-laundering under Section 3. It further held that where the tainted property is unavailable, equivalent value property may be attached under Section 2(1)(u), even if the attached asset is ancestral or was acquired earlier, so long as it represents equivalent value. The Tribunal also interpreted Section 5(1) to require only an apprehended likelihood of concealment or transfer, not proof of actual alienation, and upheld the provisional attachment orders.
The AT held that enhanced compensation fraudulently received after the claimants' own enhancement proceedings had failed constituted proceeds of crime, and that later possession and projection of that money as untainted property fell within money-laundering under Section 3. It further held that where the tainted property is unavailable, equivalent value property may be attached under Section 2(1)(u), even if the attached asset is ancestral or was acquired earlier, so long as it represents equivalent value. The Tribunal also interpreted Section 5(1) to require only an apprehended likelihood of concealment or transfer, not proof of actual alienation, and upheld the provisional attachment orders.
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