Penalty for estimation of income and disallowances for tax non-deduction clarified: estimation-based penalties not sustainable; additions without conc...
Managerial remuneration disallowance under s.40A(2)(b) challenged over alleged tax-avoidance; appellate decision restored deletion of addition for dir...
Classification of imported goods as electronic cigarette versus tobacco product reversed for lack of proof; order set aside for jurisdictional overrea...
The dominant issue was whether the petitioner's arrest for money-laundering violated the safeguards under Section 19(1)-(2) of the PMLA, including whether "reasons to believe" and the grounds of arrest were illusory and whether arrest could rest on non-cooperation or a predicate-offence investigation. The Court held that arrest under Section 19 is not a tool for investigation; it requires an independent PMLA investigation and recorded written reasons reflecting prima facie satisfaction of guilt, with due consideration of exculpatory material. On the facts, the Court found Section 19 compliance by the arresting officer and declined release on that ground, leaving merits-bail open to be considered independently. - HC
The dominant issue was whether the petitioner's arrest for money-laundering violated the safeguards under Section 19(1)-(2) of the PMLA, including whether "reasons to believe" and the grounds of arrest were illusory and whether arrest could rest on non-cooperation or a predicate-offence investigation. The Court held that arrest under Section 19 is not a tool for investigation; it requires an independent PMLA investigation and recorded written reasons reflecting prima facie satisfaction of guilt, with due consideration of exculpatory material. On the facts, the Court found Section 19 compliance by the arresting officer and declined release on that ground, leaving merits-bail open to be considered independently. - HC
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