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...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
Issue of benami property transactions and the appellant's failure to prove the source of income for acquiring properties worth Rs. 1,41,37,500/-. The Initiating Officer alleged that the appellant, an employee with a meagre salary, acquired benami properties. The Adjudicating Authority found that the appellant could not produce documents to substantiate the source of income for purchasing the properties. The appellant tried to rely on an income tax assessment order, but the Tribunal held that it cannot be used for adjudication under the Benami Transactions Act. The Adjudicating Authority's detailed findings revealed the benami nature of the properties acquired largely in cash without disclosing the source. The appellant failed to submit material proving the source of income before the authorities. The Tribunal dismissed the appeal, finding no favorable material for the appellant, and rejected the reliance on the Supreme Court's recalled judgment in Ganpati Dealcom case.
Issue of benami property transactions and the appellant's failure to prove the source of income for acquiring properties worth Rs. 1,41,37,500/-. The Initiating Officer alleged that the appellant, an employee with a meagre salary, acquired benami properties. The Adjudicating Authority found that the appellant could not produce documents to substantiate the source of income for purchasing the properties. The appellant tried to rely on an income tax assessment order, but the Tribunal held that it cannot be used for adjudication under the Benami Transactions Act. The Adjudicating Authority's detailed findings revealed the benami nature of the properties acquired largely in cash without disclosing the source. The appellant failed to submit material proving the source of income before the authorities. The Tribunal dismissed the appeal, finding no favorable material for the appellant, and rejected the reliance on the Supreme Court's recalled judgment in Ganpati Dealcom case.
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