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...
Agreement for sale creating an enforceable right and accompanied by substantial advance consideration and irrevocable commitment was held to constitute a transfer under the statutory definition, because it created a right in personam enabling specific performance; consequently the earlier purchase within one year prior to that date qualified for the capital gains exemption on acquisition. The legal test applied emphasised creation of enforceable rights and transfer of possession or rights to enforce the agreement as determinative of the date of transfer and entitlement to exemption.
Agreement for sale creating an enforceable right and accompanied by substantial advance consideration and irrevocable commitment was held to constitute a transfer under the statutory definition, because it created a right in personam enabling specific performance; consequently the earlier purchase within one year prior to that date qualified for the capital gains exemption on acquisition. The legal test applied emphasised creation of enforceable rights and transfer of possession or rights to enforce the agreement as determinative of the date of transfer and entitlement to exemption.
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