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 petitioner was granted bail by the High Court in a money laundering case under the Prevention of Money Laundering Act (PMLA). The court held that the Enforcement Directorate (ED) must establish foundational facts, after which the burden shifts to the accused to rebut the presumption u/s 24 of the PMLA. Statements recorded u/s 50 of the PMLA while the accused was in custody are inadmissible against the maker and can only provide corroboration. The alleged cash payment of Rs. 1.50 crores to the petitioner was not substantiated. The court observed that prolonged incarceration before being pronounced guilty violates Article 21 of the Constitution, and constitutional courts must lean towards constitutionalism and rule of law. Considering the circumstances, the petitioner was granted bail upon furnishing a bond of Rs. 10,00,000/- with stringent conditions.
The petitioner was granted bail by the High Court in a money laundering case under the Prevention of Money Laundering Act (PMLA). The court held that the Enforcement Directorate (ED) must establish foundational facts, after which the burden shifts to the accused to rebut the presumption u/s 24 of the PMLA. Statements recorded u/s 50 of the PMLA while the accused was in custody are inadmissible against the maker and can only provide corroboration. The alleged cash payment of Rs. 1.50 crores to the petitioner was not substantiated. The court observed that prolonged incarceration before being pronounced guilty violates Article 21 of the Constitution, and constitutional courts must lean towards constitutionalism and rule of law. Considering the circumstances, the petitioner was granted bail upon furnishing a bond of Rs. 10,00,000/- with stringent conditions.
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