Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
AT affirmed provisional attachment of properties mortgaged by appellant banks in money laundering case. The tribunal recognized potential collusion between bank officials and loan recipients during 2010-2017. Banks were permitted to file claims under PMLA sections 8(5) to 8(8), with liberty to seek property auction and proportionate distribution of outstanding liabilities. The Adjudicating Authority's reasonable belief based on recorded statements and documents substantiated the provisional attachment order. Excess auction proceeds will be deposited as FDR with ED pending trial outcome. Appeal was disposed of, maintaining the original attachment order.
AT affirmed provisional attachment of properties mortgaged by appellant banks in money laundering case. The tribunal recognized potential collusion between bank officials and loan recipients during 2010-2017. Banks were permitted to file claims under PMLA sections 8(5) to 8(8), with liberty to seek property auction and proportionate distribution of outstanding liabilities. The Adjudicating Authority's reasonable belief based on recorded statements and documents substantiated the provisional attachment order. Excess auction proceeds will be deposited as FDR with ED pending trial outcome. Appeal was disposed of, maintaining the original attachment order.
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TaxTMI 
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