Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
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Properties acquired before the scheduled offence could still be attached as value of proceeds of crime where tainted funds were used to repay loans or the direct proceeds were unavailable; disclosure of the assets in income-tax records did not alter the alleged tainted character of the funds. The Tribunal also held that statements recorded under Section 50 of PMLA are admissible in proceedings under the Act and may be relied on even if later disputed, where supporting material exists. However, provisional attachment of a security deposit already in Judicial Magistrate custody failed because reasons to believe under Section 5(1) must include a real apprehension of concealment, transfer, or frustration of confiscation; that attachment was set aside.
Properties acquired before the scheduled offence could still be attached as value of proceeds of crime where tainted funds were used to repay loans or the direct proceeds were unavailable; disclosure of the assets in income-tax records did not alter the alleged tainted character of the funds. The Tribunal also held that statements recorded under Section 50 of PMLA are admissible in proceedings under the Act and may be relied on even if later disputed, where supporting material exists. However, provisional attachment of a security deposit already in Judicial Magistrate custody failed because reasons to believe under Section 5(1) must include a real apprehension of concealment, transfer, or frustration of confiscation; that attachment was set aside.
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