Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
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Cash can fall within the statutory meaning of "property" where it is a movable asset used for acquisition or transfer of value. On the facts, routing demonetised cash through a third party's bank account and receiving it back through banking channels satisfied the ingredients of a benami transaction because one person held the property while another provided the consideration and benefited from the transfer. The Tribunal held that immediate retransfer did not take the arrangement outside the Act. It also modified the provisional attachment by restricting it to the reduced amount after giving credit for sums already paid under the disclosure scheme and deposited in interest-free bonds, while permitting tracing and attachment of any remaining balance if unavailable in the appellant's account.
Cash can fall within the statutory meaning of "property" where it is a movable asset used for acquisition or transfer of value. On the facts, routing demonetised cash through a third party's bank account and receiving it back through banking channels satisfied the ingredients of a benami transaction because one person held the property while another provided the consideration and benefited from the transfer. The Tribunal held that immediate retransfer did not take the arrangement outside the Act. It also modified the provisional attachment by restricting it to the reduced amount after giving credit for sums already paid under the disclosure scheme and deposited in interest-free bonds, while permitting tracing and attachment of any remaining balance if unavailable in the appellant's account.
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