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...
Return filed in response to a notice issued in search-related proceedings substitutes the original return filed earlier, and the assessee may lodge fresh or additional claims in abated assessments arising from search and seizure proceedings. The legal effect is that statutory provisions ordinarily applicable to returns filed under normal assessment processes apply equally to returns in search-related proceedings, permitting reopening of claims and consideration of new claims in abated years. An appellate authority's dismissal of appeals as infructuous was found erroneous, requiring fresh adjudication on admissibility and sustainability of the additional claims and remand for decision on merits.
Return filed in response to a notice issued in search-related proceedings substitutes the original return filed earlier, and the assessee may lodge fresh or additional claims in abated assessments arising from search and seizure proceedings. The legal effect is that statutory provisions ordinarily applicable to returns filed under normal assessment processes apply equally to returns in search-related proceedings, permitting reopening of claims and consideration of new claims in abated years. An appellate authority's dismissal of appeals as infructuous was found erroneous, requiring fresh adjudication on admissibility and sustainability of the additional claims and remand for decision on merits.
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