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...
Challenge concerned denial of tax deducted at source (TDS) credit where a third-party deductor failed to deposit tax, and maintainability of a writ on territorial grounds. Court held that territorial jurisdiction could not be defeated by a later transfer of the assessing authority and permitted the petition to proceed. On the substantive TDS issue, the court recognised that the assessee cannot be penalised for the deductors failure to deposit and quashed the intimation disallowing TDS credit; consequential recovery was declared illegal and a refund with applicable interest was directed.
Challenge concerned denial of tax deducted at source (TDS) credit where a third-party deductor failed to deposit tax, and maintainability of a writ on territorial grounds. Court held that territorial jurisdiction could not be defeated by a later transfer of the assessing authority and permitted the petition to proceed. On the substantive TDS issue, the court recognised that the assessee cannot be penalised for the deductors failure to deposit and quashed the intimation disallowing TDS credit; consequential recovery was declared illegal and a refund with applicable interest was directed.
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