Condonation of Delay: Tribunal directed condonation where rectification proceedings were pursued, ordering merits adjudication after opportunity to be...
Restriction of Input Tax Credit under Rule 86A applies only to fraudulently or ineligible availed credit; mere wrongful recipient availment is insuffi...
Provisional attachment under the PMLA was upheld where the order itself recorded that the immovable property represented proceeds of crime, so there was no need for later supplementation of reasons. The Court held that attachment is confined to property having a nexus with the scheduled offence; property acquired before commission of the offence does not ordinarily fall within the definition of proceeds of crime, and equivalent-value attachment is limited to property derived from criminal activity taken or held outside India. However, the appellant failed to prove on the record that the attached property was in fact acquired before the alleged offence period, so the challenge to attachment failed.
Provisional attachment under the PMLA was upheld where the order itself recorded that the immovable property represented proceeds of crime, so there was no need for later supplementation of reasons. The Court held that attachment is confined to property having a nexus with the scheduled offence; property acquired before commission of the offence does not ordinarily fall within the definition of proceeds of crime, and equivalent-value attachment is limited to property derived from criminal activity taken or held outside India. However, the appellant failed to prove on the record that the attached property was in fact acquired before the alleged offence period, so the challenge to attachment failed.
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