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Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
The HC dismissed the applicant's prayer for regular bail under Section 439 CrPC read with Section 45 of the PMLA, holding that the twin pre-conditions in Section 45(1)(i)-(ii) were not satisfied on a prima facie appraisal of investigation material. The court found sufficient material to prima facie infer commission of an offence under Section 3 PMLA and involvement of proceeds of crime arising from illegal facilitation of foreign nationals, with substantial bank deposits. Given the statutory presumptions, the restrictive bail regime under the PMLA and absence of exceptional grounds, the court refused to exercise discretionary jurisdiction and dismissed the bail application.
The HC dismissed the applicant's prayer for regular bail under Section 439 CrPC read with Section 45 of the PMLA, holding that the twin pre-conditions in Section 45(1)(i)-(ii) were not satisfied on a prima facie appraisal of investigation material. The court found sufficient material to prima facie infer commission of an offence under Section 3 PMLA and involvement of proceeds of crime arising from illegal facilitation of foreign nationals, with substantial bank deposits. Given the statutory presumptions, the restrictive bail regime under the PMLA and absence of exceptional grounds, the court refused to exercise discretionary jurisdiction and dismissed the bail application.
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