Dependent Agent PE unresolved for lack of factual inquiry; arm's-length distribution accepted; royalty claim rejected; 15% refund interest (Section 24...
Exemption under s.10(23C)(iiiad) upheld; appeal allowed, interest and dividends excluded from annual receipts, disallowance deleted, capital gains exe...
The AT allowed the appeal, holding the impugned attachment and freeze unlawful for breach of natural justice due to non-supply of relied-upon documents (RUDs) with the show-cause notice; several RUDs, including investigative reports and FIRs, were integral to the reasons to believe and were not furnished. The Tribunal found that peripheral factual disputes (shareholding quantum, timing/repayment of loans, proprietary rights, and proportionality of seizure) became moot once procedural illegality was established. The respondents are directed to return seized movable assets, digital devices and records and to de-freeze the appellant's bank accounts within six weeks of receipt of a certified copy of this order. Appeal allowed.
The AT allowed the appeal, holding the impugned attachment and freeze unlawful for breach of natural justice due to non-supply of relied-upon documents (RUDs) with the show-cause notice; several RUDs, including investigative reports and FIRs, were integral to the reasons to believe and were not furnished. The Tribunal found that peripheral factual disputes (shareholding quantum, timing/repayment of loans, proprietary rights, and proportionality of seizure) became moot once procedural illegality was established. The respondents are directed to return seized movable assets, digital devices and records and to de-freeze the appellant's bank accounts within six weeks of receipt of a certified copy of this order. Appeal allowed.
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