Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Money-laundering liability under the PMLA concerns processes connected with proceeds of crime, rather than merely commission of the scheduled offence. The notes state that, at discharge stage, the Special Court examines only whether the complaint and accompanying material disclose the statutory ingredients and a prima facie case; it cannot assess the correctness of pending predicate offences. Statutory presumptions and reverse burden provisions regarding interconnected transactions and legitimacy of assets are matters for trial. Challenges based on acquittal, discharge or quashing of the scheduled offence arise only after final judicial determination. On the stated material, refusal of discharge was upheld and the revision petitions were dismissed.
Money-laundering liability under the PMLA concerns processes connected with proceeds of crime, rather than merely commission of the scheduled offence. The notes state that, at discharge stage, the Special Court examines only whether the complaint and accompanying material disclose the statutory ingredients and a prima facie case; it cannot assess the correctness of pending predicate offences. Statutory presumptions and reverse burden provisions regarding interconnected transactions and legitimacy of assets are matters for trial. Challenges based on acquittal, discharge or quashing of the scheduled offence arise only after final judicial determination. On the stated material, refusal of discharge was upheld and the revision petitions were dismissed.
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