Jurisdictional sanction requirements bar reassessment when approval comes from an authority lacking statutory competence under the applicable framewor...
Recorded sales receipts cannot be reassessed as unexplained cash credits, eliminating the basis for consequential alleged commission expenditure addit...
Sufficient cause for delayed income-tax appeals requires bona fide diligence; unsubstantiated counsel illness and assessee inaction defeat condonation...
TNMM Segmentation Limits Transfer-Pricing Adjustments to Associated-Enterprise Transactions and Requires Turnover-Based Comparable Selection for IT Se...
The HC dismissed a petition challenging a non-bailable warrant issued against a Dubai resident involved in the Mahadev Online Book operation. The Court rejected preliminary objections regarding petition maintainability through a power of attorney holder. The Court upheld the Special Court's jurisdiction to issue the warrant under Section 70 of CrPC after the petitioner failed to respond to summons issued under Section 50 of PMLA. Evidence indicated the petitioner was a main promoter of the illegal operation and had obtained citizenship in Vanuatu, which lacks an extradition treaty with India, demonstrating intent to evade investigation. The Court affirmed that PMLA provisions apply to any person involved with proceeds of crime, not just those named in scheduled offenses.
The HC dismissed a petition challenging a non-bailable warrant issued against a Dubai resident involved in the Mahadev Online Book operation. The Court rejected preliminary objections regarding petition maintainability through a power of attorney holder. The Court upheld the Special Court's jurisdiction to issue the warrant under Section 70 of CrPC after the petitioner failed to respond to summons issued under Section 50 of PMLA. Evidence indicated the petitioner was a main promoter of the illegal operation and had obtained citizenship in Vanuatu, which lacks an extradition treaty with India, demonstrating intent to evade investigation. The Court affirmed that PMLA provisions apply to any person involved with proceeds of crime, not just those named in scheduled offenses.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
