Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
Specified income of Baddi Barotiwala Nalagarh Development Authority receives conditional tax exemption, retrospectively covering its designated assess...
Specified development authority income receives retrospective tax exemption, subject to non-commercial activity, unchanged income sources, and return-...
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.
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