Maintainability of a Section 7 insolvency petition against a financial service provider denied; appeal dismissed for non maintainability and complex d...
Provisional attachment under Prevention of Money Laundering Act requires exhaustion of statutory remedies; impugned order set aside, appeal to tribuna...
Restoration of property under Prevention of Money Laundering Act after attachment dispute rendered academic; possession directed to successful resolut...
Goods Transport Agency services via e commerce portals: consignment note creates custody and liability and enables exemption for unregistered recipien...
Where a show cause notice under Section 74(1) is founded on documents from an earlier search and seizure, the noticee must be given effective access to the relied upon material to answer it. The Court held that the petitioners were entitled to inspection and/or extracts of all relied upon records, and that specific accounting data such as excel or tally files had to be supplied where relied upon and specifically requested. It limited the ruling to this procedural access issue, directed disclosure within the time fixed, allowed time to reply and a personal hearing, extended the adjudication period, and left all other challenges open.
Where a show cause notice under Section 74(1) is founded on documents from an earlier search and seizure, the noticee must be given effective access to the relied upon material to answer it. The Court held that the petitioners were entitled to inspection and/or extracts of all relied upon records, and that specific accounting data such as excel or tally files had to be supplied where relied upon and specifically requested. It limited the ruling to this procedural access issue, directed disclosure within the time fixed, allowed time to reply and a personal hearing, extended the adjudication period, and left all other challenges open.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4823 
Join Channel 
