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...
Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
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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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