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...
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The AT dismissed the appeal, upholding the attachment of the impugned property under PMLA. It was held that the property, though not directly acquired from proceeds of crime, qualifies for attachment as equivalent value property due to siphoning of criminal proceeds. The twin conditions under section 5(1) PMLA for attachment were satisfied based on prima facie evidence of bank fraud and conspiracy involving the appellant company's directors and their families. The Tribunal rejected the appellant's contention against retrospective application of the 2009 amendment, clarifying the relevant date for scheduled offences is when the property is projected as untainted. Further, the property was validly attached despite the appellant not being named as accused in the chargesheet, given their possession and connection to the proceeds of crime. Consequently, the property remains confiscated, and the appeal was dismissed in favor of the respondent ED.
The AT dismissed the appeal, upholding the attachment of the impugned property under PMLA. It was held that the property, though not directly acquired from proceeds of crime, qualifies for attachment as equivalent value property due to siphoning of criminal proceeds. The twin conditions under section 5(1) PMLA for attachment were satisfied based on prima facie evidence of bank fraud and conspiracy involving the appellant company's directors and their families. The Tribunal rejected the appellant's contention against retrospective application of the 2009 amendment, clarifying the relevant date for scheduled offences is when the property is projected as untainted. Further, the property was validly attached despite the appellant not being named as accused in the chargesheet, given their possession and connection to the proceeds of crime. Consequently, the property remains confiscated, and the appeal was dismissed in favor of the respondent ED.
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