Threshold for allottee-initiated insolvency petitions in leasehold real estate upheld; petition admitted after possession letters deemed legally ineff...
Contravention of foreign exchange rules in crossborder diamond payments; appellate tribunal reduces one appellant's penalty for delay and proportional...
RPA (Remote Pilot Aircraft) for military use defined to include drones/UAV/UAS; exemptions limited to specified defence imports with Joint Secretary c...
Transfer of going concern and transfer of input tax credit under GST allowed; exemption applies though interstate ledger transfers left to authorities...
Provisional attachment of property under the PMLA was challenged on the ground that the predicate (scheduled offence) proceedings were not maintainable against certain persons and, therefore, the attached property ought to be released. It was held that where a principal accused in the scheduled offence remains neither quashed nor discharged/acquitted, property linked to the alleged proceeds of crime cannot be released on that basis and can continue to be attached while the predicate proceedings are pending. It was further held that attachment under the PMLA is not confined to persons named as accused in the scheduled offence and extends to any person involved in processes connected with proceeds of crime. The appeal was dismissed. - AT
Provisional attachment of property under the PMLA was challenged on the ground that the predicate (scheduled offence) proceedings were not maintainable against certain persons and, therefore, the attached property ought to be released. It was held that where a principal accused in the scheduled offence remains neither quashed nor discharged/acquitted, property linked to the alleged proceeds of crime cannot be released on that basis and can continue to be attached while the predicate proceedings are pending. It was further held that attachment under the PMLA is not confined to persons named as accused in the scheduled offence and extends to any person involved in processes connected with proceeds of crime. The appeal was dismissed. - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4819 
Join Channel 
