Composite inpatient healthcare supply may retain exemption despite MRP medicine billing, while separate taxable sale characterisation remains disputed...
Working-capital adjustment determines whether software-services transfer-pricing margins fall within the statutory tolerance range, eliminating any ad...
Permanent establishment deductions upheld for expatriate salaries, direct costs and trading losses, while head-office costs require fresh classificati...
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.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4817 
Join Channel 
