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...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
Money-laundering under the PMLA was treated as a continuing activity; the relevant date is when a person engages in or continues dealing with proceeds of crime, not merely the date of the predicate offence. On the facts, the appellant continued to derive benefit from unauthorized construction and related transactions, the ECIR was recorded when the scheduled-offence requirement stood attracted, and the ECIR had not been quashed. The Article 20(1) challenge and the plea based on absence of scheduled-offence status at the initial point of time were rejected, and confirmation of provisional attachment was upheld, with the appeal dismissed.
Money-laundering under the PMLA was treated as a continuing activity; the relevant date is when a person engages in or continues dealing with proceeds of crime, not merely the date of the predicate offence. On the facts, the appellant continued to derive benefit from unauthorized construction and related transactions, the ECIR was recorded when the scheduled-offence requirement stood attracted, and the ECIR had not been quashed. The Article 20(1) challenge and the plea based on absence of scheduled-offence status at the initial point of time were rejected, and confirmation of provisional attachment was upheld, with the appeal dismissed.
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