Charitable trust registration requires a specified-violation notice; settled cash deposits and related-party payments did not justify cancellation or ...
External development charges trigger TDS under section 194C, while disputed administrative payments require factual verification and fresh adjudicatio...
Section 270AA penalty immunity requires identified statutory defaults and a hearing before rejection; reassessment disclosure may constitute under-rep...
Section 80JJAA employee-cost deduction allowed for deployed staff but barred against transfer-pricing income enhancement, with pricing issues remanded...
Transfer-pricing methodology protects commercially genuine associated-enterprise payments, while pre-2016 secondary adjustments and related notional i...
Negative liens over operating assets can constitute international transactions requiring arm's-length pricing reflecting restricted borrowing and expa...
Cross-examination rights in Customs Broker revocation inquiries require witness examination; procedural denial may be cured through fresh adjudication...
The AT dismissed the appeal concerning attachment of property under the PMLA related to scheduled offences involving falsified financial statements and conspiracy. It was established that a portion of the purchase consideration for the property originated from proceeds of crime traced to inflated share sales. The tribunal emphasized that proceeds of crime encompass property equivalent in value to criminally derived assets, regardless of legitimate income sources. The failure to provide an opportunity of hearing under Section 8 of the PMLA was noted but did not alter the outcome. The tribunal rejected the contention that SARFAESI Act supersedes PMLA, affirming their distinct objectives. Consequently, the attachment order was upheld, confirming the property as proceeds of crime and dismissing the appeal.
The AT dismissed the appeal concerning attachment of property under the PMLA related to scheduled offences involving falsified financial statements and conspiracy. It was established that a portion of the purchase consideration for the property originated from proceeds of crime traced to inflated share sales. The tribunal emphasized that proceeds of crime encompass property equivalent in value to criminally derived assets, regardless of legitimate income sources. The failure to provide an opportunity of hearing under Section 8 of the PMLA was noted but did not alter the outcome. The tribunal rejected the contention that SARFAESI Act supersedes PMLA, affirming their distinct objectives. Consequently, the attachment order was upheld, confirming the property as proceeds of crime and dismissing the appeal.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
