Withdrawal of obsolete FEMA circulars streamlines rules on external commercial borrowings, non-resident bond investments, and money transfer sub-agent...
Departmental appeal limitation after call-book recall preserves original filing, while documented correlation supports SAD refund on imported granules...
Income-tax prosecution fails when appellate remand removes its factual foundation; directors require company arraignment for vicarious criminal liabil...
Capital character of assignment consideration prevents taxation as residuary income, while unsupported interest-related expenditure remains non-deduct...
Make-available condition shields regional support-service receipts from Indian taxation where no independent capability or permanent establishment exi...
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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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