Unlawful outward remittances via Hawala using proforma invoices and electronic records proved; documents admitted, directors penalised, penalties redu...
Attachment of equivalent-value properties as proceeds of crime upheld; preventive attachment order and confirmation sustained; no independent ED reinv...
Tax deduction at source remained mandatory, and interim protection against withholding was refused because no finding had been made that the payments were not chargeable to tax; the Court would not bypass statutory deduction on equitable grounds or by substituting security. To end the continuing uncertainty for the non-resident taxpayer, the pending advance ruling applications were treated as withdrawn, and the Assessing Officer was directed to complete the A.Y. 2018-19 assessment while examining taxability under the Act, the DTAA, and the equalisation levy implications.
Tax deduction at source remained mandatory, and interim protection against withholding was refused because no finding had been made that the payments were not chargeable to tax; the Court would not bypass statutory deduction on equitable grounds or by substituting security. To end the continuing uncertainty for the non-resident taxpayer, the pending advance ruling applications were treated as withdrawn, and the Assessing Officer was directed to complete the A.Y. 2018-19 assessment while examining taxability under the Act, the DTAA, and the equalisation levy implications.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4817 
Join Channel 
