Maintainability of a Section 7 insolvency petition against a financial service provider denied; appeal dismissed for non maintainability and complex d...
Provisional attachment under Prevention of Money Laundering Act requires exhaustion of statutory remedies; impugned order set aside, appeal to tribuna...
Restoration of property under Prevention of Money Laundering Act after attachment dispute rendered academic; possession directed to successful resolut...
Quashing of ex parte assessment order and remand for fresh adjudication on merits subject to a pre-deposit regime is directed; HC requires the assessee to deposit between 25% and 100% of disputed tax depending on delay, with the present case requiring one-third as pre-deposit, and mandates vacation of bank attachment upon compliance. Prior payments or recoveries shall be set off against the pre-deposit. Failure to comply permits the revenue to resume recovery proceedings as if the petition were dismissed. Writ petition disposed accordingly.
Quashing of ex parte assessment order and remand for fresh adjudication on merits subject to a pre-deposit regime is directed; HC requires the assessee to deposit between 25% and 100% of disputed tax depending on delay, with the present case requiring one-third as pre-deposit, and mandates vacation of bank attachment upon compliance. Prior payments or recoveries shall be set off against the pre-deposit. Failure to comply permits the revenue to resume recovery proceedings as if the petition were dismissed. Writ petition disposed accordingly.
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