Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
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The HC held that PMLA proceedings against the applicant were not maintainable following the quashment of the predicate offense under Section 447 of the Companies Act, 2013. The court analyzed that "proceeds of crime" under PMLA must have a direct nexus with a scheduled offense, as established in Vijay Madanlal Choudhary. Since the coordinate bench had previously determined that the prosecution under Section 447 was an impermissible retrospective application of law and deemed it malicious, the foundation for PMLA proceedings was removed. Without a valid predicate offense establishing criminal activity related to a scheduled offense, the PMLA case could not stand. Petition allowed.
The HC held that PMLA proceedings against the applicant were not maintainable following the quashment of the predicate offense under Section 447 of the Companies Act, 2013. The court analyzed that "proceeds of crime" under PMLA must have a direct nexus with a scheduled offense, as established in Vijay Madanlal Choudhary. Since the coordinate bench had previously determined that the prosecution under Section 447 was an impermissible retrospective application of law and deemed it malicious, the foundation for PMLA proceedings was removed. Without a valid predicate offense establishing criminal activity related to a scheduled offense, the PMLA case could not stand. Petition allowed.
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