Inventory write-off and fraudulent/wrongful trading allegations in corporate insolvency led to director liability principles applied and appeal dismis...
Condonation of delay in filing GSTR-3B returns and entitlement to Section 62 benefit results in withdrawal of assessments and revocation of attachment...
The text addresses provisional attachment of property alleged to be purchased using proceeds of crime through a bank loan, focusing on beneficial ownership and benami transactions. It explains that accommodated LC discounting transactions were used to generate illicit funds, that recorded witness statements implicated the arranger and beneficiaries, and that loan disbursement and EMI repayments were effected by unexplained cash deposits traced to the arranger. On that factual matrix the adjudicating authority confirmed attachment and the appeal was dismissed.
The text addresses provisional attachment of property alleged to be purchased using proceeds of crime through a bank loan, focusing on beneficial ownership and benami transactions. It explains that accommodated LC discounting transactions were used to generate illicit funds, that recorded witness statements implicated the arranger and beneficiaries, and that loan disbursement and EMI repayments were effected by unexplained cash deposits traced to the arranger. On that factual matrix the adjudicating authority confirmed attachment and the appeal was dismissed.
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