Limitation for consequential assessments runs from prescribed authority receipt, while verified purchases cannot be disallowed merely for unanswered s...
Higher depreciation for qualifying commercial vehicles, exempt-income disallowance, research deduction verification, and club-expense treatment clarif...
Charitable registration renewal cannot become an assessment of receipts, profitability or annual exemption compliance, requiring renewal and donation ...
AMP expenditure for own business is not an international transaction without an associated-enterprise arrangement, eliminating transfer pricing adjust...
Money-laundering is treated as an independent and continuing offence, so attachment under the PMLA turns on the date when proceeds of crime are possessed, concealed, used, or projected as untainted property, not on the date of the loan or predicate offence. The definition of proceeds of crime was read to include equivalent value property, allowing attachment of assets acquired earlier when traced tainted property is unavailable. Settlement of bank dues did not displace attachment while the predicate offence remained pending, and property could be attached in the hands of third parties, including a wife or children, if it represented proceeds of crime. The attachment was upheld in full.
Money-laundering is treated as an independent and continuing offence, so attachment under the PMLA turns on the date when proceeds of crime are possessed, concealed, used, or projected as untainted property, not on the date of the loan or predicate offence. The definition of proceeds of crime was read to include equivalent value property, allowing attachment of assets acquired earlier when traced tainted property is unavailable. Settlement of bank dues did not displace attachment while the predicate offence remained pending, and property could be attached in the hands of third parties, including a wife or children, if it represented proceeds of crime. The attachment was upheld in full.
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