Provisional attachment of laundered funds and equivalent-value property sustained, with statutory protection limited to pension, gratuity and providen...
Insolvency moratorium does not shield company officers from cheque dishonour prosecution for liability arising before corporate insolvency proceedings...
Advance-ruling mechanism governs pending GST classification, exemption and taxability disputes, limiting writ review once the specialised forum functi...
The case pertains to the prohibition of benami property transactions and the applicability of amended provisions introduced by the Amending Act of 2016 to the Benami Transactions (Prohibition) Act, 1988. The key points are: The Initiating Officer (I.O.) attached an agricultural land, alleging it to be a benami transaction, but could not identify the beneficial owner. The Adjudicating Authority treated the transaction as falling u/s 2(9A) of the amended Act, despite it being prior to the 2016 amendment. The Supreme Court has clarified that the amended provisions have prospective application. Transactions prior to November 1, 2016, not covered by Section 2(9A) of the amended Act, are governed by the judgment in Union of India & Anr. vs. M/s. Ganpati Dealcom Pvt. Ltd. An exception may apply if the case falls u/s 2(9A) of the amended definition, as per the Appellate Tribunal's judgment in M/s. Prism Scan Express Pvt. Ltd.
The case pertains to the prohibition of benami property transactions and the applicability of amended provisions introduced by the Amending Act of 2016 to the Benami Transactions (Prohibition) Act, 1988. The key points are: The Initiating Officer (I.O.) attached an agricultural land, alleging it to be a benami transaction, but could not identify the beneficial owner. The Adjudicating Authority treated the transaction as falling u/s 2(9A) of the amended Act, despite it being prior to the 2016 amendment. The Supreme Court has clarified that the amended provisions have prospective application. Transactions prior to November 1, 2016, not covered by Section 2(9A) of the amended Act, are governed by the judgment in Union of India & Anr. vs. M/s. Ganpati Dealcom Pvt. Ltd. An exception may apply if the case falls u/s 2(9A) of the amended definition, as per the Appellate Tribunal's judgment in M/s. Prism Scan Express Pvt. Ltd.
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