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 dismissed the petition challenging attachment orders under the PMLA. The court held it possessed territorial jurisdiction at Lucknow since searches/seizures at the petitioners' Lucknow offices gave rise to a part of the cause of action and appeals under Section 42 PMLA (and thus petitions under Section 482 CrPC) lie at that forum. The HC further held the BUDS Act is non-derogatory to other penal statutes, so commission of a BUDS offence does not preclude IPC prosecution. On facts, the court found repayments were funded by new deposits and petitioners continued to solicit deposits despite a prior embargo, so continuation of PMLA proceedings involved no illegality. Petition dismissed.
The HC dismissed the petition challenging attachment orders under the PMLA. The court held it possessed territorial jurisdiction at Lucknow since searches/seizures at the petitioners' Lucknow offices gave rise to a part of the cause of action and appeals under Section 42 PMLA (and thus petitions under Section 482 CrPC) lie at that forum. The HC further held the BUDS Act is non-derogatory to other penal statutes, so commission of a BUDS offence does not preclude IPC prosecution. On facts, the court found repayments were funded by new deposits and petitioners continued to solicit deposits despite a prior embargo, so continuation of PMLA proceedings involved no illegality. Petition dismissed.
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