Assessment time-barred u/s 153 due to missing competent-authority reference for Singapore exchange of information; assessment disallowed as barred by ...
Imported menthol-scented sweet supari classification dispute: seizure quashed, release for home consumption subject to duty bond; bank guarantee refus...
CKD/SKD air-conditioner components classifiable with finished units by essential character; prior advance ruling extended three years, FTA benefits po...
Scope of judicial review under Article 226: supervisory, not appellate; factual reappraisal barred, challenge dismissed; insolvency professional dutie...
The dominant issue was whether property acquired prior to the commission of the scheduled offence can be provisionally attached as "proceeds of crime" on an equivalent value basis under the PMLA. Interpreting the definition as comprising multiple limbs, the forum held that the "equivalent value" limb permits attachment where the actual proceeds are untraceable or unavailable because they were siphoned off or vanished; a narrower reading would defeat the Act's object by enabling offenders to frustrate recovery. Applying binding precedent and rejecting contrary authority, the provisional attachment was upheld and the appeals were dismissed. - AT
The dominant issue was whether property acquired prior to the commission of the scheduled offence can be provisionally attached as "proceeds of crime" on an equivalent value basis under the PMLA. Interpreting the definition as comprising multiple limbs, the forum held that the "equivalent value" limb permits attachment where the actual proceeds are untraceable or unavailable because they were siphoned off or vanished; a narrower reading would defeat the Act's object by enabling offenders to frustrate recovery. Applying binding precedent and rejecting contrary authority, the provisional attachment was upheld and the appeals were dismissed. - AT
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