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...
Knowing assistance in handling proceeds of crime falls within money-laundering where a person knowingly participates in processes connected with concealment, possession, acquisition, use or projection of tainted property as untainted. The material described alleged that funds from a scheduled offence were routed through the petitioner and substantially retransferred to personal accounts rather than used for the stated construction purpose, indicating prima facie active participation in transferring, concealing and disbursing such funds. The complaint was therefore not quashed. Parity with a bank Branch Manager was unavailable because the earlier quashing rested on no specific material against that manager, whereas the petitioner was attributed specific acts involving tainted funds.
Knowing assistance in handling proceeds of crime falls within money-laundering where a person knowingly participates in processes connected with concealment, possession, acquisition, use or projection of tainted property as untainted. The material described alleged that funds from a scheduled offence were routed through the petitioner and substantially retransferred to personal accounts rather than used for the stated construction purpose, indicating prima facie active participation in transferring, concealing and disbursing such funds. The complaint was therefore not quashed. Parity with a bank Branch Manager was unavailable because the earlier quashing rested on no specific material against that manager, whereas the petitioner was attributed specific acts involving tainted funds.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4782
Join Channel
TaxTMI 
