Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
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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