Retroactive interim-moratorium exclusion permits protective asset disclosure and preservation measures against personal guarantors pending arbitration...
Business expenditure deduction requires proof of genuine commission payments and commercial allowability; turnover growth alone cannot validate the cl...
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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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