Duplicate PAN allocation requires record verification and deactivation reasons before assessment-related transactions can be attributed to an assessee...
Faceless assessment safeguards require requested personal hearings and adequate final show-cause response time, failing which reassessment is required...
Embezzlement losses in charitable institutions remain allowable when misappropriation is established, irrecoverable, and not a specified-person benefi...
National long-distance undertaking status supports deduction where separately licensed infrastructure, resources, revenue, and expenditure establish c...
Agency reimbursement income follows contractual deposit-liability computation, while pending deposit collections do not constitute deemed-dividend loa...
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PMLA provisional attachment of an NBFC's bank balance requires material establishing that the property constitutes proceeds of crime connected with a scheduled offence. FIR allegations alone were insufficient where final chargesheets did not arraign the NBFC or its lending application, and no material showed that an unauthorised fintech operated under its licence or that the NBFC received identified criminal proceeds. Legitimate lending income and an outstanding contractual loan cannot be characterised as proceeds of crime without supporting evidence. As no nexus was identified between the attached balance and criminal proceeds, confirmation of the attachment was set aside.
PMLA provisional attachment of an NBFC's bank balance requires material establishing that the property constitutes proceeds of crime connected with a scheduled offence. FIR allegations alone were insufficient where final chargesheets did not arraign the NBFC or its lending application, and no material showed that an unauthorised fintech operated under its licence or that the NBFC received identified criminal proceeds. Legitimate lending income and an outstanding contractual loan cannot be characterised as proceeds of crime without supporting evidence. As no nexus was identified between the attached balance and criminal proceeds, confirmation of the attachment was set aside.
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