Reasonable Cause for Late Return: penalty under section 271(1)(c) unsustainable where disclosure, audit filing and voluntary offer showed no concealme...
Retention of seized cash, documents and digital devices under PMLA was upheld because the appellant had been supplied the only relied upon documents, namely the panchnamas, and no procedural illegality or breach of natural justice was shown. The Tribunal also found that the appellant failed to explain the source of the seized cash; the later claim that it represented scrap-sale proceeds was unsupported by reliable particulars. In view of the material linking the appellant to the main accused and the prosecution complaint seeking confiscation of the cash, the retention order was sustained, subject to the result of the trial.
Retention of seized cash, documents and digital devices under PMLA was upheld because the appellant had been supplied the only relied upon documents, namely the panchnamas, and no procedural illegality or breach of natural justice was shown. The Tribunal also found that the appellant failed to explain the source of the seized cash; the later claim that it represented scrap-sale proceeds was unsupported by reliable particulars. In view of the material linking the appellant to the main accused and the prosecution complaint seeking confiscation of the cash, the retention order was sustained, subject to the result of the trial.
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