Condonation of Delay: directoral disputes and pending company proceedings can constitute reasonable cause, allowing a belated return to be treated as ...
Revisionary jurisdiction under section 263 upheld; faceless assessments subject to revision when AO fails requisite enquiries, remitted for fresh asse...
Limited scope of processing under section 143(1): enhancement without show cause is unsustainable; remand for residency, taxation and TDS verification...
The definition of proceeds of crime is broad enough to cover property equivalent in value to assets derived from scheduled offences, permitting attachment where original proceeds are unavailable. When an appeal under the Appellate Tribunal is pending against an order under Section 8(3) PMLA, the Special Court should not decide an application under Section 8(7) PMLA; a deemed embargo and the doctrine of merger require deferral, and the Special Court's allowance of such an application was set aside. The appellant's Section 8(8) remedy was correctly dismissed for failure to show quantifiable loss. The confiscation vesting in the Central Government is absolute, and the appeal before the Appellate Tribunal was restored for merits.
The definition of proceeds of crime is broad enough to cover property equivalent in value to assets derived from scheduled offences, permitting attachment where original proceeds are unavailable. When an appeal under the Appellate Tribunal is pending against an order under Section 8(3) PMLA, the Special Court should not decide an application under Section 8(7) PMLA; a deemed embargo and the doctrine of merger require deferral, and the Special Court's allowance of such an application was set aside. The appellant's Section 8(8) remedy was correctly dismissed for failure to show quantifiable loss. The confiscation vesting in the Central Government is absolute, and the appeal before the Appellate Tribunal was restored for merits.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4819 
Join Channel 
