Minimum alternate tax exclusions for pre-amendment banking companies and expatriate Indian branch salaries remain outside head office expenditure limi...
Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
The AT affirms that alleged collusion between bank officials and the directors of the company is not foreclosed and must be adjudicated by the Special Judge, PMLA, in the trial court. The AT holds that where two statutes conflict, the later enactment prevails absent a saving clause. The liquidator of the company is granted leave to move the Special Judge, PMLA, under section 8(7) of the PMLA for permission to auction the specified property to satisfy the consortium of banks and other creditors; the liquidator must undertake to deposit any surplus realisation in an FDR with the Respondent and the Special Judge will adjudicate its disposal after conclusion of the PMLA trial. Appeal dismissed.
The AT affirms that alleged collusion between bank officials and the directors of the company is not foreclosed and must be adjudicated by the Special Judge, PMLA, in the trial court. The AT holds that where two statutes conflict, the later enactment prevails absent a saving clause. The liquidator of the company is granted leave to move the Special Judge, PMLA, under section 8(7) of the PMLA for permission to auction the specified property to satisfy the consortium of banks and other creditors; the liquidator must undertake to deposit any surplus realisation in an FDR with the Respondent and the Special Judge will adjudicate its disposal after conclusion of the PMLA trial. Appeal dismissed.
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