Money laundering property attachment and third-party encumbrance rights clarified; prior bona fide interests enforceable before confiscation, appeals ...
Profiteering in construction services for failure to pass input tax credit resulted in repayment exceeding the commensurate benefit and closure of pro...
Reverse burden under the 2002 Act applied once foundational facts showed the appellant's active connection with the entities and possession of loan and utilisation documents, so he had to displace the statutory presumption regarding proceeds of crime. The Tribunal held that he was not a mere nominal director and could not rely on liability principles from other statutes. It also required him to prove the lawful source of money in the frozen bank accounts under Section 8(1). His unsupported claim of income from a gym business and LIC commission failed, so retention of seized documents and devices, and continuance of the account freeze, were upheld.
Reverse burden under the 2002 Act applied once foundational facts showed the appellant's active connection with the entities and possession of loan and utilisation documents, so he had to displace the statutory presumption regarding proceeds of crime. The Tribunal held that he was not a mere nominal director and could not rely on liability principles from other statutes. It also required him to prove the lawful source of money in the frozen bank accounts under Section 8(1). His unsupported claim of income from a gym business and LIC commission failed, so retention of seized documents and devices, and continuance of the account freeze, were upheld.
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