Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
The HC dismissed the applicant's bail plea under the rigours of Section 45 of the PMLA and Section 483 of the BNS, 2023, holding custodial detention necessary. The applicant, a senior public official, is charged with laundering proceeds exceeding Rs.100 crores arising from a large-scale illicit liquor syndicate; prima facie material attributes active orchestration rather than passive involvement. The court found statutory twin conditions unmet and applied the triple-test for economic offences, emphasizing preservation of evidence, tracing residual proceeds, preventing witness interference, and protecting public interest and constitutional morality. Differential treatment of co-accused was deemed inapposite on facts. Bail application rejected.
The HC dismissed the applicant's bail plea under the rigours of Section 45 of the PMLA and Section 483 of the BNS, 2023, holding custodial detention necessary. The applicant, a senior public official, is charged with laundering proceeds exceeding Rs.100 crores arising from a large-scale illicit liquor syndicate; prima facie material attributes active orchestration rather than passive involvement. The court found statutory twin conditions unmet and applied the triple-test for economic offences, emphasizing preservation of evidence, tracing residual proceeds, preventing witness interference, and protecting public interest and constitutional morality. Differential treatment of co-accused was deemed inapposite on facts. Bail application rejected.
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