Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
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.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
