Validity of faceless assessment procedure challenged for jurisdictional AO intervention mid-remand, resulting in quashing of assessment for procedural...
Inventory write-off and fraudulent/wrongful trading allegations in corporate insolvency led to director liability principles applied and appeal dismis...
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
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