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...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
Seizure of Indian Rupees under PMLA, 2002 due to alleged involvement in Hawala transaction. Appellant argued not being accused in FIR or ECIR, thus seizure u/s 17 not valid. However, evidence indicated Hawala transaction of Rs.15 Crore and appellant's failure to explain the source of funds. Statement u/s 50 implicated appellant in facilitating transaction. Second argument on bank withdrawals not clarifying legitimate use of funds for foreign exchange. Appellant's involvement in large transactions not substantiated. Appeal dismissed by Appellate Tribunal.
Seizure of Indian Rupees under PMLA, 2002 due to alleged involvement in Hawala transaction. Appellant argued not being accused in FIR or ECIR, thus seizure u/s 17 not valid. However, evidence indicated Hawala transaction of Rs.15 Crore and appellant's failure to explain the source of funds. Statement u/s 50 implicated appellant in facilitating transaction. Second argument on bank withdrawals not clarifying legitimate use of funds for foreign exchange. Appellant's involvement in large transactions not substantiated. Appeal dismissed by Appellate Tribunal.
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