Deferred Payment of Customs Duty extended to Eligible Manufacturer Importers with electronic registration and ICEGATE authentication for conditional c...
Tariff classification determines GST schedule and rate; beverages in Schedule III attract the higher rate, tea extracts and syrups in Schedule I attra...
Fraudulent trading requires cogent evidence of intent to defraud; ordinary-course payments protected, except post-insolvency withdrawals must be resto...
The Tribunal explained that "proceeds of crime" under Section 2(1)(u) can extend to property of equivalent value where the actual tainted property is not traceable, applying a three-limb reading of the definition and supporting authority. It held that provisional attachment may therefore be sustained on equivalent-value property if a prima facie nexus with the scheduled offence exists. The appellants' claim that a subcontractor was responsible for the forged invoices was rejected because contractual responsibility remained with the appellants and the asserted transfers were not proved by reliable records. The Tribunal also found that the contractual deduction for non-deposit of drums did not undermine the attachment, and it rejected the challenge that the adjudication order was merely a template order.
The Tribunal explained that "proceeds of crime" under Section 2(1)(u) can extend to property of equivalent value where the actual tainted property is not traceable, applying a three-limb reading of the definition and supporting authority. It held that provisional attachment may therefore be sustained on equivalent-value property if a prima facie nexus with the scheduled offence exists. The appellants' claim that a subcontractor was responsible for the forged invoices was rejected because contractual responsibility remained with the appellants and the asserted transfers were not proved by reliable records. The Tribunal also found that the contractual deduction for non-deposit of drums did not undermine the attachment, and it rejected the challenge that the adjudication order was merely a template order.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4807
Join Channel
TaxTMI 
