Transfer pricing comparability under TNMM: foreign exchange loss on ECB excluded from operating cost, and a functionally dissimilar comparator removed...
Fake AI-generated precedents vitiate adjudication, with unverified citations contaminating the decision-making process and undermining the rule of law...
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The HC held that quashing of FIR does not automatically lead to quashing of ECIR under PMLA. PMLA is a sui generis legislation with section 3 being a standalone provision. ECIR cannot be equated with FIR as ECIR becomes independent once initiated. Quashing of FIR on technical grounds does not exonerate accused from predicate offence u/s 447 of Companies Act which is a scheduled offence. ECIR was not liable to be quashed as the predicate offence was still pending. Petition dismissed with the direction that trial court shall proceed uninfluenced by observations on factual aspects.
The HC held that quashing of FIR does not automatically lead to quashing of ECIR under PMLA. PMLA is a sui generis legislation with section 3 being a standalone provision. ECIR cannot be equated with FIR as ECIR becomes independent once initiated. Quashing of FIR on technical grounds does not exonerate accused from predicate offence u/s 447 of Companies Act which is a scheduled offence. ECIR was not liable to be quashed as the predicate offence was still pending. Petition dismissed with the direction that trial court shall proceed uninfluenced by observations on factual aspects.
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