Dispute Resolution Panel objections must reach both prescribed forums; otherwise assessment may proceed and statutory appeal remains the proper remedy...
Political contribution deductions require recipient party compliance with contribution-reporting conditions; banking-channel donations alone do not qu...
Aggregation under TNMM prevents selective testing of intra-group services without comparable uncontrolled transactions, while appellate additional cla...
Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
The HC held that the provisional attachment order under Section 5(1)(b) of the PMLA, issued on 10 Nov 2021, cannot operate beyond 180 days; even after excluding COVID-period suspensions, the 180-day limit has elapsed. A stay obtained by a different party over certain properties does not extend the statutory 180-day period as to the petitioner's claimed properties. Consequently, the provisional attachment will no longer operate qua the properties in which the petitioner claimed interest, and those attachments are declared vacated/raised. The HC further noted that the ED has not completed proceedings under Section 8(3) of the PMLA to finalize attachment. Application disposed.
The HC held that the provisional attachment order under Section 5(1)(b) of the PMLA, issued on 10 Nov 2021, cannot operate beyond 180 days; even after excluding COVID-period suspensions, the 180-day limit has elapsed. A stay obtained by a different party over certain properties does not extend the statutory 180-day period as to the petitioner's claimed properties. Consequently, the provisional attachment will no longer operate qua the properties in which the petitioner claimed interest, and those attachments are declared vacated/raised. The HC further noted that the ED has not completed proceedings under Section 8(3) of the PMLA to finalize attachment. Application disposed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4803
Join Channel
TaxTMI 
