Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
The Appellate Tribunal allowed the appeal and set aside the orders of provisional attachment and its confirmation. The accused were discharged from the predicate offence by the Competent Court, and the order attained finality in the absence of a challenge. Since the accused were discharged from the scheduled offence, the impugned orders of provisional attachment and its confirmation could not be sustained under the Prevention of Money Laundering Act, 2002. The attachment of properties belonging to the accused and their entities was questioned, and the Tribunal accepted the argument that when the accused were discharged from the predicate offence, the orders of provisional attachment could not be upheld.
The Appellate Tribunal allowed the appeal and set aside the orders of provisional attachment and its confirmation. The accused were discharged from the predicate offence by the Competent Court, and the order attained finality in the absence of a challenge. Since the accused were discharged from the scheduled offence, the impugned orders of provisional attachment and its confirmation could not be sustained under the Prevention of Money Laundering Act, 2002. The attachment of properties belonging to the accused and their entities was questioned, and the Tribunal accepted the argument that when the accused were discharged from the predicate offence, the orders of provisional attachment could not be upheld.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4918 
