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...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
SC held that a complaint under Section 44(1)(b) of PMLA is governed by CrPC Sections 200-204, with Sections 223-226 also applicable. In the instant case, the Special Judge failed to provide the appellant an opportunity to be heard before taking cognizance of the offense. Consequently, the impugned order dated 20th April 2024 was set aside due to non-compliance with Section 223(1) of BNSS. The appellate court allowed the appeal, emphasizing procedural fairness and the mandatory requirement of hearing the accused prior to cognizance.
SC held that a complaint under Section 44(1)(b) of PMLA is governed by CrPC Sections 200-204, with Sections 223-226 also applicable. In the instant case, the Special Judge failed to provide the appellant an opportunity to be heard before taking cognizance of the offense. Consequently, the impugned order dated 20th April 2024 was set aside due to non-compliance with Section 223(1) of BNSS. The appellate court allowed the appeal, emphasizing procedural fairness and the mandatory requirement of hearing the accused prior to cognizance.
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