Penalty for estimation of income and disallowances for tax non-deduction clarified: estimation-based penalties not sustainable; additions without conc...
Managerial remuneration disallowance under s.40A(2)(b) challenged over alleged tax-avoidance; appellate decision restored deletion of addition for dir...
Classification of imported goods as electronic cigarette versus tobacco product reversed for lack of proof; order set aside for jurisdictional overrea...
Quashing of an FIR against one accused does not automatically invalidate parallel PMLA investigation, ECIR recording or provisional attachment where predicate offences remain disclosed and proceedings against other persons continue; the continuation of proceedings and attachment was therefore sustained. Transfers routed through a web of companies were held to be paper/shell transactions in the absence of loan documentation, balance sheet entries or supporting books, and contemporaneous material traced the money trail to disputed properties. Under the statutory allocation of burden (notice obligations and the onus under Section 24), appellants failed to disclose or prove lawful source of funds, justifying confirmation of provisional attachment.
Quashing of an FIR against one accused does not automatically invalidate parallel PMLA investigation, ECIR recording or provisional attachment where predicate offences remain disclosed and proceedings against other persons continue; the continuation of proceedings and attachment was therefore sustained. Transfers routed through a web of companies were held to be paper/shell transactions in the absence of loan documentation, balance sheet entries or supporting books, and contemporaneous material traced the money trail to disputed properties. Under the statutory allocation of burden (notice obligations and the onus under Section 24), appellants failed to disclose or prove lawful source of funds, justifying confirmation of provisional attachment.
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