Classification of imported salvaged shaft pieces as ship parts confirmed, reassessment time-barred and appeal allowed restoring original classificatio...
Scope of intermediary status for data hosting services: tribunal finds provider not intermediary, services exported and not taxable, limited remand on...
CENVAT credit availability after omission of Rule 12B in textiles confirmed; late addendum to SCN introducing new grounds held time-barred and invalid...
Export of Wheat Flour and related products subject to online allocation, eligibility criteria, non-transferable six-month authorisations and reporting...
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Properties representing "proceeds of crime" can be provisionally attached even when held by persons not named as accused in the FIR or charge-sheet, since PMLA aims to trace and secure proceeds in whosoever's possession; accordingly, the challenge on this ground was rejected. Properties acquired prior to the scheduled offence period are also attachable as "value thereof" under the second limb of the definition of "proceeds of crime"; hence, attachment of equivalent-value assets was upheld. Release was declined because PMLA does not require a direct nexus where attachment is based on indirect acquisition or "value thereof." Mortgaged assets were held attachable to prevent alienation; secured creditors may seek auction through the Special Judge with safeguards for surplus deposit. Appeal dismissed. - AT
Properties representing "proceeds of crime" can be provisionally attached even when held by persons not named as accused in the FIR or charge-sheet, since PMLA aims to trace and secure proceeds in whosoever's possession; accordingly, the challenge on this ground was rejected. Properties acquired prior to the scheduled offence period are also attachable as "value thereof" under the second limb of the definition of "proceeds of crime"; hence, attachment of equivalent-value assets was upheld. Release was declined because PMLA does not require a direct nexus where attachment is based on indirect acquisition or "value thereof." Mortgaged assets were held attachable to prevent alienation; secured creditors may seek auction through the Special Judge with safeguards for surplus deposit. Appeal dismissed. - AT
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