Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
Third-party claims to attached property under the Prevention of...
Third-party ownership claims over attached property require Special Court adjudication where purchasers lack registered sale deeds and bona fides remain unresolved.
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Third-party claims to attached property under the Prevention of Money Laundering Act require adjudication before the Special Court where purchasers rely on agreements to sell but hold no registered sale deeds. The Tribunal noted that the available material could not conclusively establish whether the purchasers were bona fide or colluded with the principal accused, despite possible vendor misdeclaration that plots remained unsold. Purchasers may pursue their ownership and release claims before the Special Court, while the Enforcement Directorate may verify the claims and report to that Court; no final finding on bona fides or ownership was made.
Third-party claims to attached property under the Prevention of Money Laundering Act require adjudication before the Special Court where purchasers rely on agreements to sell but hold no registered sale deeds. The Tribunal noted that the available material could not conclusively establish whether the purchasers were bona fide or colluded with the principal accused, despite possible vendor misdeclaration that plots remained unsold. Purchasers may pursue their ownership and release claims before the Special Court, while the Enforcement Directorate may verify the claims and report to that Court; no final finding on bona fides or ownership was made.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4782
Join Channel
TaxTMI 
