Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
HC granted bail in money laundering case involving corporate resolution plan. Court found insufficient evidence to deny bail, noting: (1) applicant not named in original charge sheet, (2) predicate offence not conclusively established, (3) main alleged beneficiary remains unarrested, and (4) co-accused with similar alleged role already granted bail. Court emphasized bail as default principle and ordered release upon furnishing personal bond of Rs. 1 lakh with two similar sureties, subject to standard bail conditions. The bail order underscores procedural fairness and requirement of substantive evidence in economic offence proceedings under PMLA.
HC granted bail in money laundering case involving corporate resolution plan. Court found insufficient evidence to deny bail, noting: (1) applicant not named in original charge sheet, (2) predicate offence not conclusively established, (3) main alleged beneficiary remains unarrested, and (4) co-accused with similar alleged role already granted bail. Court emphasized bail as default principle and ordered release upon furnishing personal bond of Rs. 1 lakh with two similar sureties, subject to standard bail conditions. The bail order underscores procedural fairness and requirement of substantive evidence in economic offence proceedings under PMLA.
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