Opportunity to respond to jurisdictional reports is mandatory before customs settlement duty enhancement; connected applications require consistent ad...
Specific customs headings for scaffolding components prevail over general classification, invalidating misclassification proceedings and enabling with...
Liquidator appointment under Section 34 requires consideration of creditor recommendations, valid professional authorisation, and preservation of vali...
Income-tax exemption for specified regulatory fees and government grants applies subject to non-commercial activity and continuing compliance conditio...
Digital accessibility audit and remediation deadlines extended, while all other disability-compliance obligations for regulated entities remain unchan...
Substitution of attached proceeds of crime with a bank guarantee does not justify release of identifiable immovable property under the PMLA. The statutory scheme aims to prevent enjoyment of assets derived from illegal activity and preserve them for confiscation or restitution. Releasing such property for use or transfer may enable its depletion, generate further funds, and legitimise income derived from it, undermining those objectives. The request for de-attachment and substitution with an equivalent bank guarantee was rejected, and the writ petition was dismissed.
Substitution of attached proceeds of crime with a bank guarantee does not justify release of identifiable immovable property under the PMLA. The statutory scheme aims to prevent enjoyment of assets derived from illegal activity and preserve them for confiscation or restitution. Releasing such property for use or transfer may enable its depletion, generate further funds, and legitimise income derived from it, undermining those objectives. The request for de-attachment and substitution with an equivalent bank guarantee was rejected, and the writ petition was dismissed.
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