Reassessment for unreturned property sales survives where transfer information, non-filing, and unsupported exemption claims establish a prima facie l...
Profit-element taxation limits additions for unaccounted flat-sale receipts and grey-market purchases, while reliable search records support partial a...
Non-participating bidders cannot disturb concluded liquidation sales on speculative prejudice, while costs for such challenges must remain proportiona...
The AT partially allowed the appeal, finding procedural defects in the provisional attachment order (PAO) for a specific property. The tribunal determined that the PAO was issued after amendments to PMLA incorporating Prevention of Corruption Act provisions, thus not retrospectively invalid. However, the order was set aside due to failure to issue show cause notice (SCN) to the co-owner as mandated under Section 8(1) of PMLA. Consequently, the PAO for the specific flat at Patel Nagar was quashed, with the attachment order being declared invalid for procedural non-compliance.
The AT partially allowed the appeal, finding procedural defects in the provisional attachment order (PAO) for a specific property. The tribunal determined that the PAO was issued after amendments to PMLA incorporating Prevention of Corruption Act provisions, thus not retrospectively invalid. However, the order was set aside due to failure to issue show cause notice (SCN) to the co-owner as mandated under Section 8(1) of PMLA. Consequently, the PAO for the specific flat at Patel Nagar was quashed, with the attachment order being declared invalid for procedural non-compliance.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4888 
