Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
HC held that the Appellate Tribunal had erroneously set aside the adjudication order by treating absence of a "prosecution complaint" against Respondent A as decisive, although such a contention was never raised and a supplementary complaint had in fact been filed. HC clarified that, under s.17 PMLA, a valid search and seizure does not require that the premises belong to a person already arraigned as an accused; it is sufficient that the authorised officer has "reason to believe" that proceeds of crime or related records are located there, and that the statutory preconditions are met. Finding that these conditions were satisfied and that the Tribunal misdirected itself in law, HC set aside the impugned order dated 21.05.2019 and remanded the appeal to the Appellate Tribunal for fresh adjudication after hearing both sides.
HC held that the Appellate Tribunal had erroneously set aside the adjudication order by treating absence of a "prosecution complaint" against Respondent A as decisive, although such a contention was never raised and a supplementary complaint had in fact been filed. HC clarified that, under s.17 PMLA, a valid search and seizure does not require that the premises belong to a person already arraigned as an accused; it is sufficient that the authorised officer has "reason to believe" that proceeds of crime or related records are located there, and that the statutory preconditions are met. Finding that these conditions were satisfied and that the Tribunal misdirected itself in law, HC set aside the impugned order dated 21.05.2019 and remanded the appeal to the Appellate Tribunal for fresh adjudication after hearing both sides.
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