Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return filing...
Dispute Resolution Panel objections must reach both prescribed forums; otherwise assessment may proceed and statutory appeal remains the proper remedy...
Political contribution deductions require recipient party compliance with contribution-reporting conditions; banking-channel donations alone do not qu...
Aggregation under TNMM prevents selective testing of intra-group services without comparable uncontrolled transactions, while appellate additional cla...
Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
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The petitioner, accused of money laundering under the Prevention of Money Laundering Act (PMLA), sought bail. The court held that Section 45 of PMLA imposes stringent conditions for granting bail, requiring the court to be satisfied that there are reasonable grounds to believe the accused is not guilty and is unlikely to commit an offence while on bail. The prosecution alleged the petitioner influenced a bank to sanction loans to Kiran P.P., from which the petitioner received Rs. 14 crore. The court found prima facie evidence supporting the allegations, including inconsistent statements, unexplained cash credits, and unaccounted capital in the petitioner's business. Relying on Supreme Court precedents, the court concluded there were no reasonable grounds to believe the petitioner was not guilty and denied bail, considering the serious nature of the accusations.
The petitioner, accused of money laundering under the Prevention of Money Laundering Act (PMLA), sought bail. The court held that Section 45 of PMLA imposes stringent conditions for granting bail, requiring the court to be satisfied that there are reasonable grounds to believe the accused is not guilty and is unlikely to commit an offence while on bail. The prosecution alleged the petitioner influenced a bank to sanction loans to Kiran P.P., from which the petitioner received Rs. 14 crore. The court found prima facie evidence supporting the allegations, including inconsistent statements, unexplained cash credits, and unaccounted capital in the petitioner's business. Relying on Supreme Court precedents, the court concluded there were no reasonable grounds to believe the petitioner was not guilty and denied bail, considering the serious nature of the accusations.
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