Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
AT dismissed the appeal regarding provisional attachment under Benami law. The property in question was already attached by ED under PMLA provisions. While criminal proceedings were initiated, neither the proprietor of RK Emporium nor Respondent 2 faced prosecution under PMLA. The tribunal distinguished between Benami transactions and money laundering, noting their distinct statutory parameters under PBPTA and PMLA. Investigation revealed funds were transferred from Yashawini Exports, controlled by a third party, not by the alleged beneficial owner. This finding contradicted the core premise of the Benami allegation, leading to dismissal of the attachment order.
AT dismissed the appeal regarding provisional attachment under Benami law. The property in question was already attached by ED under PMLA provisions. While criminal proceedings were initiated, neither the proprietor of RK Emporium nor Respondent 2 faced prosecution under PMLA. The tribunal distinguished between Benami transactions and money laundering, noting their distinct statutory parameters under PBPTA and PMLA. Investigation revealed funds were transferred from Yashawini Exports, controlled by a third party, not by the alleged beneficial owner. This finding contradicted the core premise of the Benami allegation, leading to dismissal of the attachment order.
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