Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
At the discharge stage under PMLA, the court must only see whether prosecution material, taken at face value, discloses the ingredients of money-laundering; it cannot conduct a mini-trial or weigh defence documents. Revisional interference with refusal of discharge is confined to patent illegality, jurisdictional error, or a legal bar to the proceedings. On the materials described, the assets, bank routing, deposits, insurance policies and investments were treated as sufficient to prima facie indicate acquisition, possession, layering and projection of proceeds of crime, and the accused's explanation was left for trial.
At the discharge stage under PMLA, the court must only see whether prosecution material, taken at face value, discloses the ingredients of money-laundering; it cannot conduct a mini-trial or weigh defence documents. Revisional interference with refusal of discharge is confined to patent illegality, jurisdictional error, or a legal bar to the proceedings. On the materials described, the assets, bank routing, deposits, insurance policies and investments were treated as sufficient to prima facie indicate acquisition, possession, layering and projection of proceeds of crime, and the accused's explanation was left for trial.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
