Centralised assessment transfer becomes unwarranted once the searched person's assessment is complete, requiring restoration to the appropriate charge...
Co-operative deduction eligibility excludes refund and commercial-bank interest, while qualifying co-operative investments require entity-wise verific...
Enhanced tax rate on surrendered unexplained income applies prospectively, while cash-deposit telescoping requires verification of available surrender...
Equivalent-value attachment under the PMLA was upheld because section 2(1)(u) includes not only property derived from criminal activity but also the value of such property, allowing attachment of untainted substitute assets when the proceeds of crime are not traceable. The Tribunal rejected the argument that such attachment is confined to assets held abroad and accepted that prior acquisition of the attached property is no bar if it represents equivalent value. It also found adequate statutory reason to believe, held that the burden shifted to the noticee to show the property was not proceeds of crime, and confirmed the attachment.
Equivalent-value attachment under the PMLA was upheld because section 2(1)(u) includes not only property derived from criminal activity but also the value of such property, allowing attachment of untainted substitute assets when the proceeds of crime are not traceable. The Tribunal rejected the argument that such attachment is confined to assets held abroad and accepted that prior acquisition of the attached property is no bar if it represents equivalent value. It also found adequate statutory reason to believe, held that the burden shifted to the noticee to show the property was not proceeds of crime, and confirmed the attachment.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
