Belated Form 10B filing during Covid-19 cannot defeat charitable exemption where genuine hardship warrants condonation and substantial justice prevail...
Limitation for consequential assessments runs from prescribed authority receipt, while verified purchases cannot be disallowed merely for unanswered s...
Higher depreciation for qualifying commercial vehicles, exempt-income disallowance, research deduction verification, and club-expense treatment clarif...
Charitable registration renewal cannot become an assessment of receipts, profitability or annual exemption compliance, requiring renewal and donation ...
AMP expenditure for own business is not an international transaction without an associated-enterprise arrangement, eliminating transfer pricing adjust...
Rule 5(5) of the 2013 Rules permits acceptance of a fixed deposit in substitution for attached jointly owned immovable property only to the extent of the concerned person's estimated share. Its discretionary wording does not create a general or enforceable right to secure release of PMLA-attached property by offering equivalent security; financial hardship and adequacy of security do not justify mandamus. Writ jurisdiction under Article 226 should not ordinarily bypass the PMLA appellate mechanism where no exceptional circumstance, natural justice breach, jurisdictional error, perversity, or manifest illegality is shown. The writ petition was dismissed, leaving the validity of attachment for the pending statutory appeals.
Rule 5(5) of the 2013 Rules permits acceptance of a fixed deposit in substitution for attached jointly owned immovable property only to the extent of the concerned person's estimated share. Its discretionary wording does not create a general or enforceable right to secure release of PMLA-attached property by offering equivalent security; financial hardship and adequacy of security do not justify mandamus. Writ jurisdiction under Article 226 should not ordinarily bypass the PMLA appellate mechanism where no exceptional circumstance, natural justice breach, jurisdictional error, perversity, or manifest illegality is shown. The writ petition was dismissed, leaving the validity of attachment for the pending statutory appeals.
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