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...
Goods Transport Agency services via e commerce portals: consignment note creates custody and liability and enables exemption for unregistered recipien...
Penalty under section 271AAB was contested on the ground that the search team failed to examine or ascertain the source of cash and jewellery and did not inform searched persons of the disclosure obligation under section 132(4); the failure of authorised officers to question and elicit disclosures was held determinative of the penalty rate, leading to the conclusion that the lesser statutory penalty rate should apply. The assessing officer was directed to recompute the penalty at the lower rate and the assessee's appeal was allowed.
Penalty under section 271AAB was contested on the ground that the search team failed to examine or ascertain the source of cash and jewellery and did not inform searched persons of the disclosure obligation under section 132(4); the failure of authorised officers to question and elicit disclosures was held determinative of the penalty rate, leading to the conclusion that the lesser statutory penalty rate should apply. The assessing officer was directed to recompute the penalty at the lower rate and the assessee's appeal was allowed.
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