Condonation of Delay: Tribunal directed condonation where rectification proceedings were pursued, ordering merits adjudication after opportunity to be...
Restriction of Input Tax Credit under Rule 86A applies only to fraudulently or ineligible availed credit; mere wrongful recipient availment is insuffi...
Provisional attachment under the Act was upheld where funds raised by a bitcoin scheme were identified as proceeds of crime and laundered through layered banking transactions, asset purchases and shell entities; the Adjudicating Authority's characterisation of the impugned properties as tainted was supported by admissions and bank-trace analysis, and attachment was confirmed. Attachment was permissible despite the properties being held by persons not yet named as accused where material indicated possession of proceeds. Rapid, unexplained loan repayment was treated as indicative of layering. Death of the principal did not nullify attachment absent a recorded order of abatement; apprehension of alienation justified provisional attachment.
Provisional attachment under the Act was upheld where funds raised by a bitcoin scheme were identified as proceeds of crime and laundered through layered banking transactions, asset purchases and shell entities; the Adjudicating Authority's characterisation of the impugned properties as tainted was supported by admissions and bank-trace analysis, and attachment was confirmed. Attachment was permissible despite the properties being held by persons not yet named as accused where material indicated possession of proceeds. Rapid, unexplained loan repayment was treated as indicative of layering. Death of the principal did not nullify attachment absent a recorded order of abatement; apprehension of alienation justified provisional attachment.
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