Benami transaction and beneficial ownership: documentary and circumstantial evidence show payors were true beneficiaries, resulting in PBPTA consequen...
Denial of Preferential Treatment under SAFTA overturned where unchallenged Country of Origin certificate warranted exemption under Notification benefi...
Continuing offence of money-laundering: discharge set aside and proceedings reinstated where laundering continued after inclusion of predicate offence...
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Penalty under section 271(1)(c) was examined on whether initiation was vitiated due to non-specification of the exact charge, i.e., "concealment of income" or "furnishing inaccurate particulars." The penalty notice was found to be omnibus, retaining both limbs without striking off the inapplicable one or otherwise indicating the precise ground, thereby denying clear notice of the allegation. Relying on binding precedent that such ambiguity invalidates penalty initiation, the tribunal's deletion of penalty was upheld, and the revenue's appeal was dismissed for absence of any substantial question of law. - HC
Penalty under section 271(1)(c) was examined on whether initiation was vitiated due to non-specification of the exact charge, i.e., "concealment of income" or "furnishing inaccurate particulars." The penalty notice was found to be omnibus, retaining both limbs without striking off the inapplicable one or otherwise indicating the precise ground, thereby denying clear notice of the allegation. Relying on binding precedent that such ambiguity invalidates penalty initiation, the tribunal's deletion of penalty was upheld, and the revenue's appeal was dismissed for absence of any substantial question of law. - HC
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