Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
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The AT examined the attachment of properties under PMLA in a money laundering case. The tribunal held that properties can be attached even if mortgaged, as the appellants retain potential transfer rights. The ED's attachment was deemed valid since the original proceeds of crime were untraceable, and the attached properties represented equivalent value. The tribunal emphasized that PMLA's objective is to reach proceeds of crime regardless of nominal ownership. The court rejected arguments for property release or substitution, noting the fraud's quantum exceeded attached property values. Ultimately, the appellate tribunal dismissed the appeal, affirming the enforcement agency's attachment proceedings and maintaining the properties' status under PMLA's broad interpretative framework.
The AT examined the attachment of properties under PMLA in a money laundering case. The tribunal held that properties can be attached even if mortgaged, as the appellants retain potential transfer rights. The ED's attachment was deemed valid since the original proceeds of crime were untraceable, and the attached properties represented equivalent value. The tribunal emphasized that PMLA's objective is to reach proceeds of crime regardless of nominal ownership. The court rejected arguments for property release or substitution, noting the fraud's quantum exceeded attached property values. Ultimately, the appellate tribunal dismissed the appeal, affirming the enforcement agency's attachment proceedings and maintaining the properties' status under PMLA's broad interpretative framework.
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