Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
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 
TaxTMI 
of 4830 
Join Channel 
