Deductibility of settlement payments for securities law penalties and treatment of unexplained cash credits in share trading -- Tribunal upholds posit...
Threshold for allottee-initiated insolvency petitions in leasehold real estate upheld; petition admitted after possession letters deemed legally ineff...
Contravention of foreign exchange rules in crossborder diamond payments; appellate tribunal reduces one appellant's penalty for delay and proportional...
RPA (Remote Pilot Aircraft) for military use defined to include drones/UAV/UAS; exemptions limited to specified defence imports with Joint Secretary c...
Challenge to arrest under the Prevention of Money Laundering Act focused on whether the arresting officer had 'reasons to believe' and whether statutory safeguards were followed; court applied the limited judicial review standard requiring manifest arbitrariness or gross non compliance and found procedural safeguards complied with, tangible material (cash, jewellery, digital devices, recorded statements and communications) supported the officer's reasons to believe, and remand orders need not be quashed. On proceeds of crime and the independence of the money laundering offence, the court held that property derived from scheduled offences may constitute proceeds of crime and that possession or concealment can sustain independent money laundering proceedings, so PMLA liability did not require prior arraignment in predicate FIRs.
Challenge to arrest under the Prevention of Money Laundering Act focused on whether the arresting officer had 'reasons to believe' and whether statutory safeguards were followed; court applied the limited judicial review standard requiring manifest arbitrariness or gross non compliance and found procedural safeguards complied with, tangible material (cash, jewellery, digital devices, recorded statements and communications) supported the officer's reasons to believe, and remand orders need not be quashed. On proceeds of crime and the independence of the money laundering offence, the court held that property derived from scheduled offences may constitute proceeds of crime and that possession or concealment can sustain independent money laundering proceedings, so PMLA liability did not require prior arraignment in predicate FIRs.
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