Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Money Laundering - scheduled offence - proceeds of crime - There is a distinct difference in the reason to believe appearing in Section 17 and the reason to believe in respect of Section 5 - the impugned order is without jurisdiction there being no scheduled offence against the petitioners, it is not necessary to delve into the question as to what would be the impact of not passing an order under sub- section (2) of Section 20 of PMLA on the PMLA proceedings. - HC
Money Laundering - scheduled offence - proceeds of crime - There is a distinct difference in the reason to believe appearing in Section 17 and the reason to believe in respect of Section 5 - the impugned order is without jurisdiction there being no scheduled offence against the petitioners, it is not necessary to delve into the question as to what would be the impact of not passing an order under sub- section (2) of Section 20 of PMLA on the PMLA proceedings. - HC
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