Co-operative society's mandatory reserve and share capital fixed deposits with banks-interest treated as business income under 80P(2)(a)(iii) deductio...
Income tax reassessment reopening after four years on investigation tip, without s.147 proviso disclosure failure, struck down as borrowed satisfactio...
Non-bailable warrants issued against a person summoned under Section 50 PMLA were quashed on the ground that the Special Court lacked jurisdiction under Section 73 CrPC. Section 73 permits warrants only against a convict, proclaimed offender, or a person accused of a non-bailable offence who is evading arrest; here the person was consistently shown as a "witness" in summons and MLAT material, and there was no finding that he was an accused or absconding. Non-compliance with Section 50 summons could at best attract prosecution under Section 174 IPC, not issuance of warrants without meeting Section 73 prerequisites. The impugned order was set aside and the petition was allowed - HC
Non-bailable warrants issued against a person summoned under Section 50 PMLA were quashed on the ground that the Special Court lacked jurisdiction under Section 73 CrPC. Section 73 permits warrants only against a convict, proclaimed offender, or a person accused of a non-bailable offence who is evading arrest; here the person was consistently shown as a "witness" in summons and MLAT material, and there was no finding that he was an accused or absconding. Non-compliance with Section 50 summons could at best attract prosecution under Section 174 IPC, not issuance of warrants without meeting Section 73 prerequisites. The impugned order was set aside and the petition was allowed - HC
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4817 
Join Channel 
