Transaction value and connected person treatment in excise valuation: proprietary concerns not inter connected undertakings, relief on valuation and c...
Appointment of Registrars as adjudicating officers under Companies Act reallocates territorial jurisdiction and sets appeal route to Regional Director...
Composite supply of drilling services and site specific chemicals characterised as composite supply; prior advance rulings set aside, tax rate left op...
Cross country pipeline classification and ITC entitlement: pipelines outside factory treated as immovable, ITC disallowed under Section 17 restriction...
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The Tribunal interpreted "proceeds of crime" to include not only property directly or indirectly derived from a scheduled offence, but also property of equivalent value where the actual tainted property is unavailable. On that construction, provisional attachment can extend to immovable properties acquired before the check-period or even before commission of the offence, because the relevant question is whether equivalent-value attachment secures quantified proceeds of crime. The check-period used for assessing disproportionate assets was held to be distinct from the period relevant to attachment. As the value of the attached properties remained below the quantified proceeds of crime, the confirmation of provisional attachment was upheld.
The Tribunal interpreted "proceeds of crime" to include not only property directly or indirectly derived from a scheduled offence, but also property of equivalent value where the actual tainted property is unavailable. On that construction, provisional attachment can extend to immovable properties acquired before the check-period or even before commission of the offence, because the relevant question is whether equivalent-value attachment secures quantified proceeds of crime. The check-period used for assessing disproportionate assets was held to be distinct from the period relevant to attachment. As the value of the attached properties remained below the quantified proceeds of crime, the confirmation of provisional attachment was upheld.
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