Tax deduction compliance and payee income recognition govern consultancy disallowance, while no exempt income prevents related expenditure disallowanc...
The HC held that the petitioner is a bona fide purchaser who acquired the property before the predicate offence was registered. A bona fide purchaser who acquires property prior to any predicate offence cannot be subjected to proceedings under the PMLA without evidence of conspiracy or direct involvement. The impugned proceedings against the petitioner were held unsustainable in the peculiar facts of the case. The petition was allowed.
The HC held that the petitioner is a bona fide purchaser who acquired the property before the predicate offence was registered. A bona fide purchaser who acquires property prior to any predicate offence cannot be subjected to proceedings under the PMLA without evidence of conspiracy or direct involvement. The impugned proceedings against the petitioner were held unsustainable in the peculiar facts of the case. The petition was allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4814 
Join Channel 
