Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
Specified income of Baddi Barotiwala Nalagarh Development Authority receives conditional tax exemption, retrospectively covering its designated assess...
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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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