Business upkeep expenses despite no revenue, director's interest-free advances, and property gift additions-disallowances and notional interest delete...
Insolvency resolution plan's loan assignment between approving and dissenting creditors: post-approval redistribution blocked; original distribution e...
Page of 4817
Press 'Enter' after typing page number.
7741 to 7760 of 96333 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
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.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4817 
Join Channel 
