Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
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The HC, applying the binding three-Judge precedent, held that prosecution under Section 3 of the 2002 Act is contingent on the existence of a registered or pending scheduled-offence; a final discharge or quashing of the predicate offence precludes maintainability of a money-laundering prosecution. The Petitioners, having been finally discharged by the trial court from the predicate offence by order dated 31 July 2021, cannot be prosecuted under the 2002 Act in respect of the same property. Consequently, the ECIR and the ensuing charge-sheet filed against the Petitioners by the respondent are quashed and set aside. The petition is allowed and proceedings under the 2002 Act against the Petitioners are dismissed.
The HC, applying the binding three-Judge precedent, held that prosecution under Section 3 of the 2002 Act is contingent on the existence of a registered or pending scheduled-offence; a final discharge or quashing of the predicate offence precludes maintainability of a money-laundering prosecution. The Petitioners, having been finally discharged by the trial court from the predicate offence by order dated 31 July 2021, cannot be prosecuted under the 2002 Act in respect of the same property. Consequently, the ECIR and the ensuing charge-sheet filed against the Petitioners by the respondent are quashed and set aside. The petition is allowed and proceedings under the 2002 Act against the Petitioners are dismissed.
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