Non-participating bidders cannot disturb concluded liquidation sales on speculative prejudice, while costs for such challenges must remain proportiona...
Section 115BBE classification requires a valid deeming-provision basis before special taxation, while the enhanced rate's temporal application remains...
Statutory composition of the Adjudicating Authority requires a legally constituted Bench; absent an evidence-based finding that a Chairperson-only Bench was validly constituted, its adjudication is coram non judice and a nullity. The authority must identify the relevant property and record a prima facie finding that it is involved in money-laundering; a need to retain or freeze property for adjudication cannot replace that finding. Bank accounts or business turnover alone are not proceeds of crime without a reasoned nexus to scheduled-offence criminal activity. An appellate body cannot supply this omitted foundational finding. Non-communication of reasons to believe also breaches statutory safeguards, vitiating freezing and retention proceedings. The impugned order was quashed without deciding whether any offence was committed.
Statutory composition of the Adjudicating Authority requires a legally constituted Bench; absent an evidence-based finding that a Chairperson-only Bench was validly constituted, its adjudication is coram non judice and a nullity. The authority must identify the relevant property and record a prima facie finding that it is involved in money-laundering; a need to retain or freeze property for adjudication cannot replace that finding. Bank accounts or business turnover alone are not proceeds of crime without a reasoned nexus to scheduled-offence criminal activity. An appellate body cannot supply this omitted foundational finding. Non-communication of reasons to believe also breaches statutory safeguards, vitiating freezing and retention proceedings. The impugned order was quashed without deciding whether any offence was committed.
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