Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
Money Laundering - proceeds of crime - Provisional attachment of properties - Interest of Depositors - The High court recognized the primary aim of the APPDFE Act to protect depositors by ensuring the assets amassed through fraudulent schemes are distributed equitably among them. The court observed that the PMLA, although a central legislation with overriding effect, does not prioritize the restitution of defrauded depositors, focusing instead on the confiscation of assets involved in money laundering. - The court emphasized that the interests of depositors would be better served under the APPDFE Act, which explicitly provides for the equitable distribution of assets to depositors. It noted that allowing the continuation of attachments under the PMLA could impede this objective. - The court quashed the provisional attachment orders issued by the ED.
Money Laundering - proceeds of crime - Provisional attachment of properties - Interest of Depositors - The High court recognized the primary aim of the APPDFE Act to protect depositors by ensuring the assets amassed through fraudulent schemes are distributed equitably among them. The court observed that the PMLA, although a central legislation with overriding effect, does not prioritize the restitution of defrauded depositors, focusing instead on the confiscation of assets involved in money laundering. - The court emphasized that the interests of depositors would be better served under the APPDFE Act, which explicitly provides for the equitable distribution of assets to depositors. It noted that allowing the continuation of attachments under the PMLA could impede this objective. - The court quashed the provisional attachment orders issued by the ED.
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