Concessional Basic Customs Duty on Ethernet switches: classification as enterprise switches upheld, challenge dismissed for lack of substantial law qu...
Insolvency petition based on admitted debt and default upheld; challenge for malicious initiation rejected, settlement may proceed under resolution fr...
Quashing of FIR and challenge to ECIR over alleged diversion of funds and preferential ESOP pricing dismissed after prima facie money-laundering findi...
Circumstantial evidence of routed bank credits, cash deposits before registration, and unexplained transferors' funds was sufficient to establish a prima facie benami transaction in immovable properties. The appellants failed to show an independent source of consideration for the purchases, and their disclosed income was inadequate to fund the acquisitions. Statements under the PMLA and surrounding material supported accommodation entries and cash repayment arrangements. Even without reliance on the alleged beneficial owner's role, the benami case survived because the benamidars themselves could not explain the source of funds. The provisional attachment was therefore sustained and the appeals were dismissed.
Circumstantial evidence of routed bank credits, cash deposits before registration, and unexplained transferors' funds was sufficient to establish a prima facie benami transaction in immovable properties. The appellants failed to show an independent source of consideration for the purchases, and their disclosed income was inadequate to fund the acquisitions. Statements under the PMLA and surrounding material supported accommodation entries and cash repayment arrangements. Even without reliance on the alleged beneficial owner's role, the benami case survived because the benamidars themselves could not explain the source of funds. The provisional attachment was therefore sustained and the appeals were dismissed.
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