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 petition challenges the arrest of the petitioner u/s 19(1) of the Prevention of Money Laundering Act (PMLA), 2002, alleging non-compliance with the requirement of informing the grounds of arrest. However, the arrest memo indicates that the petitioner refused to receive it after being informed of the grounds. The Court finds no illegality in the arrest procedure. The Court acknowledges the petitioner's right to make successive bail applications and its duty to consider the reasons for earlier rejections. It upholds its previous findings that the Enforcement Directorate has collected material satisfying the presumptions u/ss 22 and 23 of the PMLA, and the petitioner cannot be held "not guilty" at this stage. The Court cites a recent Supreme Court judgment in Manish Sisodia, which held that the right to bail in cases of delay and long incarceration should be read into Section 439 of the Code of Criminal Procedure and Section 45 of the PMLA. Section 479 of the Bharatiya Nagarik Suraksha Sanhita, 2023, as amended, mandates the release of a first-time offender on bond if they have undergone detention for up to one-third of the maximum imprisonment period for the offence. The petitioner, being in custody for about two years.
The petition challenges the arrest of the petitioner u/s 19(1) of the Prevention of Money Laundering Act (PMLA), 2002, alleging non-compliance with the requirement of informing the grounds of arrest. However, the arrest memo indicates that the petitioner refused to receive it after being informed of the grounds. The Court finds no illegality in the arrest procedure. The Court acknowledges the petitioner's right to make successive bail applications and its duty to consider the reasons for earlier rejections. It upholds its previous findings that the Enforcement Directorate has collected material satisfying the presumptions u/ss 22 and 23 of the PMLA, and the petitioner cannot be held "not guilty" at this stage. The Court cites a recent Supreme Court judgment in Manish Sisodia, which held that the right to bail in cases of delay and long incarceration should be read into Section 439 of the Code of Criminal Procedure and Section 45 of the PMLA. Section 479 of the Bharatiya Nagarik Suraksha Sanhita, 2023, as amended, mandates the release of a first-time offender on bond if they have undergone detention for up to one-third of the maximum imprisonment period for the offence. The petitioner, being in custody for about two years.
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