Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
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...
Under the PMLA, initiation of proceedings depends on the Authorized Officer's written reasons to believe, formed on material in possession, and a predicate offence alone does not compel ECIR registration or enforcement action. Internal departmental circulars cannot override or add to the statutory conditions, and mandamus will not lie to direct a discretionary, quasi-judicial decision reserved to the Enforcement Directorate. The court also declined to issue adverse directions where persons alleged to be involved in the fraud were not impleaded. The writ petition was dismissed, leaving the Directorate to decide independently on the available material.
Under the PMLA, initiation of proceedings depends on the Authorized Officer's written reasons to believe, formed on material in possession, and a predicate offence alone does not compel ECIR registration or enforcement action. Internal departmental circulars cannot override or add to the statutory conditions, and mandamus will not lie to direct a discretionary, quasi-judicial decision reserved to the Enforcement Directorate. The court also declined to issue adverse directions where persons alleged to be involved in the fraud were not impleaded. The writ petition was dismissed, leaving the Directorate to decide independently on the available material.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4803
Join Channel
TaxTMI 
