Pre-trial bail granted where custodial period, documentary prosecution, and magistrate-triable offence favor release subject to surety and no witness ...
Allowability of Salary Exemptions: Form 16 entries can substantiate HRA and other salary exemptions, and home loan interest is deductible for a self-o...
Capital gains exemption: payment for plot, architect fees and bona fide commencement of construction can satisfy utilisation requirement and secure re...
Analysis focuses on benami transaction allegations and validity of a provisional attachment under the PBPT Act, 1988. The author finds the Initiating Officer failed to discharge the statutory burden to identify a benamidar, beneficial owner, the original benami property, or traceable proceeds; provisional attachment of bank accounts therefore suffers fundamental infirmities. Treating bank balances as equivalent value is rejected as inconsistent with the statutory scheme. Reliance on investigations by an external revenue authority without independent inquiry is insufficient to establish benami elements. Consequently, invocation of the PBPT Act to substitute for regulatory or fiscal breaches is unwarranted and meritorious benami findings were not made.
Analysis focuses on benami transaction allegations and validity of a provisional attachment under the PBPT Act, 1988. The author finds the Initiating Officer failed to discharge the statutory burden to identify a benamidar, beneficial owner, the original benami property, or traceable proceeds; provisional attachment of bank accounts therefore suffers fundamental infirmities. Treating bank balances as equivalent value is rejected as inconsistent with the statutory scheme. Reliance on investigations by an external revenue authority without independent inquiry is insufficient to establish benami elements. Consequently, invocation of the PBPT Act to substitute for regulatory or fiscal breaches is unwarranted and meritorious benami findings were not made.
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