Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
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The Court held that the procedure followed by the Directorate of Enforcement in seizing and selling the luxury vehicles was in accordance with the provisions of the Prevention of Money Laundering Act (PMLA) and the Rules of 2013. The vehicles were prima facie found to have been purchased from the proceeds of crime generated through criminal activities. The Court recognized that vehicles are subject to natural decay and depreciation, making them economically unviable over time. By converting the sale proceeds into fixed deposits, the Rules ensure preservation and potential increase in value, protecting the rights of both the accused and the investigating agency. The petitioner did not request the retention of vehicles in exchange for fixed deposits. The sale does not violate Section 8(6) of PMLA, as the accused would receive the sale proceeds if acquitted. The Court found no infirmity in the impugned orders and dismissed the petition.
The Court held that the procedure followed by the Directorate of Enforcement in seizing and selling the luxury vehicles was in accordance with the provisions of the Prevention of Money Laundering Act (PMLA) and the Rules of 2013. The vehicles were prima facie found to have been purchased from the proceeds of crime generated through criminal activities. The Court recognized that vehicles are subject to natural decay and depreciation, making them economically unviable over time. By converting the sale proceeds into fixed deposits, the Rules ensure preservation and potential increase in value, protecting the rights of both the accused and the investigating agency. The petitioner did not request the retention of vehicles in exchange for fixed deposits. The sale does not violate Section 8(6) of PMLA, as the accused would receive the sale proceeds if acquitted. The Court found no infirmity in the impugned orders and dismissed the petition.
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