Attachment and proclamation of sale of immovable property: limitation treated from financial year end; proclamation held within period, petition dismi...
Second Schedule attachment and validity of a post-notice mortgage: TRO cannot declare mortgage void ab initio; sale and appropriation allowed thereaft...
Limitation for final assessment under sections 144C and 153 treated jointly, resulting in quashing of timebarred assessment order and liberty to reviv...
Deductibility of settlement payments for securities law penalties and treatment of unexplained cash credits in share trading -- Tribunal upholds posit...
Threshold for allottee-initiated insolvency petitions in leasehold real estate upheld; petition admitted after possession letters deemed legally ineff...
Provisional attachment under the 2002 Act can extend to persons not named as accused in the FIR or chargesheet if the property is linked to proceeds of crime and the person is shown as a recipient or holder of such proceeds. The Tribunal rejected the challenge based solely on non-inclusion in the predicate offence. It also held that the appellants failed to prove the lawful source of more than Rs. 10 crore remitted through banking channels and used for property purchases, and that contemporaneous SMS and purchase records supported the money-trail. The plea that some properties were acquired before the murder did not defeat equivalent value attachment, and the attachment was upheld.
Provisional attachment under the 2002 Act can extend to persons not named as accused in the FIR or chargesheet if the property is linked to proceeds of crime and the person is shown as a recipient or holder of such proceeds. The Tribunal rejected the challenge based solely on non-inclusion in the predicate offence. It also held that the appellants failed to prove the lawful source of more than Rs. 10 crore remitted through banking channels and used for property purchases, and that contemporaneous SMS and purchase records supported the money-trail. The plea that some properties were acquired before the murder did not defeat equivalent value attachment, and the attachment was upheld.
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