Attachment and proclamation of sale of immovable property: limitation treated from financial year end; proclamation held within period, petition dismi...
Second Schedule attachment and validity of a post-notice mortgage: TRO cannot declare mortgage void ab initio; sale and appropriation allowed thereaft...
Limitation for final assessment under sections 144C and 153 treated jointly, resulting in quashing of timebarred assessment order and liberty to reviv...
Provisional attachment under the second proviso to section 5(1) is upheld where the officer records specific reasons to believe non-attachment would frustrate proceedings; the commentary rejects the appellant's excessive-attachment claim, noting FIR allegations are investigatory starting points and quantum of proceeds requires separate ED inquiry. The reverse burden under section 8(1) obliges the person served to substantiate lawful sources for attached property; failure to produce documentary evidence permits treating the asset as proceeds of crime. Income tax filings declaring tainted receipts do not negate PMLA liability. The article concludes the respondent established a money trail and the attachment and proposed confiscation stand undisplaced.
Provisional attachment under the second proviso to section 5(1) is upheld where the officer records specific reasons to believe non-attachment would frustrate proceedings; the commentary rejects the appellant's excessive-attachment claim, noting FIR allegations are investigatory starting points and quantum of proceeds requires separate ED inquiry. The reverse burden under section 8(1) obliges the person served to substantiate lawful sources for attached property; failure to produce documentary evidence permits treating the asset as proceeds of crime. Income tax filings declaring tainted receipts do not negate PMLA liability. The article concludes the respondent established a money trail and the attachment and proposed confiscation stand undisplaced.
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