Co-operative society's mandatory reserve and share capital fixed deposits with banks-interest treated as business income under 80P(2)(a)(iii) deductio...
Income tax reassessment reopening after four years on investigation tip, without s.147 proviso disclosure failure, struck down as borrowed satisfactio...
Proceeds of crime tracing and attachment of property of equivalent value were upheld where the accused's son's illicit commission could not be traced to bank or loan records. Tribunal found no loan documentation or repayment evidence and accepted provisional attachment under the relevant confiscation regime; consequence: property purchased even before the offence may be provisionally attached if proceeds are not traceable. Burden of proof on claimants to establish bona fide source; custodial statements and prior case law were relied upon. The appeal against confirmation of provisional attachment is dismissed.
Proceeds of crime tracing and attachment of property of equivalent value were upheld where the accused's son's illicit commission could not be traced to bank or loan records. Tribunal found no loan documentation or repayment evidence and accepted provisional attachment under the relevant confiscation regime; consequence: property purchased even before the offence may be provisionally attached if proceeds are not traceable. Burden of proof on claimants to establish bona fide source; custodial statements and prior case law were relied upon. The appeal against confirmation of provisional attachment is dismissed.
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