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...
Property standing in the name of a non-accused person can be attached under money-laundering law if material shows involvement with proceeds of crime, and the burden then shifts to the holder to rebut that link. The Tribunal found substantial transfers from an identified account into the appellant's accounts, rejected the claim that they were unsupported loans, and held that the appellant failed to prove the funds were untainted. It also held that property lawfully acquired earlier is not protected where tainted funds are later infused into it, because proceeds of crime include indirectly derived property. The provisional attachment was sustained because the authority had a rational basis to form reason to believe from investigation material.
Property standing in the name of a non-accused person can be attached under money-laundering law if material shows involvement with proceeds of crime, and the burden then shifts to the holder to rebut that link. The Tribunal found substantial transfers from an identified account into the appellant's accounts, rejected the claim that they were unsupported loans, and held that the appellant failed to prove the funds were untainted. It also held that property lawfully acquired earlier is not protected where tainted funds are later infused into it, because proceeds of crime include indirectly derived property. The provisional attachment was sustained because the authority had a rational basis to form reason to believe from investigation material.
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