Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
The High Court examined whether it is appropriate to entertain a writ petition against a Provisional Attachment Order (PAO) issued under the Prevention of Money Laundering Act, 2002, before the statutory period of 30 days when the Adjudicating Authority is required to examine it. The Supreme Court has upheld the validity of Section 5 of the Act, finding adequate safeguards to give an opportunity to the aggrieved person to file objections before the Adjudicating Authority. The PAO is passed by the Director or authorized officer with reasons based on material in possession. Since sufficient remedies are available under the Act, the High Court held it inappropriate to entertain the petition before the 30-day period expires, except in rare and exceptional cases. The petitioner was relegated to avail alternative remedies, and the Adjudicating Authority was directed to expedite the matter without observations on merits.
The High Court examined whether it is appropriate to entertain a writ petition against a Provisional Attachment Order (PAO) issued under the Prevention of Money Laundering Act, 2002, before the statutory period of 30 days when the Adjudicating Authority is required to examine it. The Supreme Court has upheld the validity of Section 5 of the Act, finding adequate safeguards to give an opportunity to the aggrieved person to file objections before the Adjudicating Authority. The PAO is passed by the Director or authorized officer with reasons based on material in possession. Since sufficient remedies are available under the Act, the High Court held it inappropriate to entertain the petition before the 30-day period expires, except in rare and exceptional cases. The petitioner was relegated to avail alternative remedies, and the Adjudicating Authority was directed to expedite the matter without observations on merits.
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