Revenue authority mandates using scheme-specific reversal procedures, not revising original entries, for instrument-based trade/customs benefits effec...
Transaction value under s.15(1) governs unrelated sales; valuation between related parties per Rule 28; consignment note required for unregistered rec...
The HC dismissed the petition and refused to quash proceedings against the petitioner, arrayed as the third accused, holding that prima facie material establishes possession of alleged proceeds of crime and sufficient inference of knowledge/mens rea under Section 3 of the PML Act, 2002. The Court ruled determination of actual possession, mens rea and use of tainted funds for any second acquisition is evidentiary and for trial; quashing at pre-trial was inappropriate. The Court observed that absence as an accused in the predicate complaint does not preclude prosecution under the PML Act or automatic quashment, and that ongoing possession post-registration supports continuation of prosecution. The Criminal Miscellaneous Case was dismissed.
The HC dismissed the petition and refused to quash proceedings against the petitioner, arrayed as the third accused, holding that prima facie material establishes possession of alleged proceeds of crime and sufficient inference of knowledge/mens rea under Section 3 of the PML Act, 2002. The Court ruled determination of actual possession, mens rea and use of tainted funds for any second acquisition is evidentiary and for trial; quashing at pre-trial was inappropriate. The Court observed that absence as an accused in the predicate complaint does not preclude prosecution under the PML Act or automatic quashment, and that ongoing possession post-registration supports continuation of prosecution. The Criminal Miscellaneous Case was dismissed.
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