Attachment of Pre Offence Mortgaged Property remains possible under PMLA; secured creditors may pursue statutory claim and seek auction with undertaki...
An educational institution running a school was found to have gross receipts below the prescribed threshold, so it was legally entitled to exemption under section 10(23C)(iiiad). The Tribunal noted that even if exemption under section 10(23C)(vi) was not available, the alternative claim succeeded on the admitted facts of educational activity and receipts within the statutory limit. The alternative plea was therefore accepted, and the exemption under section 10(23C)(iiiad) was allowed, leaving the other grounds open.
An educational institution running a school was found to have gross receipts below the prescribed threshold, so it was legally entitled to exemption under section 10(23C)(iiiad). The Tribunal noted that even if exemption under section 10(23C)(vi) was not available, the alternative claim succeeded on the admitted facts of educational activity and receipts within the statutory limit. The alternative plea was therefore accepted, and the exemption under section 10(23C)(iiiad) was allowed, leaving the other grounds open.
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