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 Appellate Tribunal held that the definition of 'proceeds of crime' encompasses not only the property derived or obtained directly or indirectly from criminal activity, but also any other property of equivalent value when the original proceeds are unavailable. The Adjudicating Authority's narrow interpretation of the definition was incorrect. The Tribunal set aside the Adjudicating Authority's order and remanded the case for fresh consideration within the statutory period, with parties to remain present on 10.12.2024. The appeal was allowed.
The Appellate Tribunal held that the definition of 'proceeds of crime' encompasses not only the property derived or obtained directly or indirectly from criminal activity, but also any other property of equivalent value when the original proceeds are unavailable. The Adjudicating Authority's narrow interpretation of the definition was incorrect. The Tribunal set aside the Adjudicating Authority's order and remanded the case for fresh consideration within the statutory period, with parties to remain present on 10.12.2024. The appeal was allowed.
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