Unlawful outward remittances via Hawala using proforma invoices and electronic records proved; documents admitted, directors penalised, penalties redu...
Attachment of equivalent-value properties as proceeds of crime upheld; preventive attachment order and confirmation sustained; no independent ED reinv...
Broker trading-system "technical glitch" redefinition and narrowed incident-reporting regime for large IBT/STWT brokers requiring 2-hr notice and 14-w...
The dominant issue was whether the provisional attachment could be sustained by treating the land purchases as benami transactions under section 2(9)(A) of the 1988 Act as amended in 2016, despite the acquisitions preceding the amendment and objections regarding "transfer/held" and notice. The tribunal found admissions that properties were purchased in the benamidar's name while consideration flowed from the alleged beneficial owner, and that the appellants failed to substantiate any asserted onward transfer arrangement. Holding that the statutory ingredients of section 2(9)(A) stood satisfied on facts and finding no basis to interfere, the appeals were dismissed and the attachment upheld - AT
The dominant issue was whether the provisional attachment could be sustained by treating the land purchases as benami transactions under section 2(9)(A) of the 1988 Act as amended in 2016, despite the acquisitions preceding the amendment and objections regarding "transfer/held" and notice. The tribunal found admissions that properties were purchased in the benamidar's name while consideration flowed from the alleged beneficial owner, and that the appellants failed to substantiate any asserted onward transfer arrangement. Holding that the statutory ingredients of section 2(9)(A) stood satisfied on facts and finding no basis to interfere, the appeals were dismissed and the attachment upheld - AT
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