Penalty for estimation of income and disallowances for tax non-deduction clarified: estimation-based penalties not sustainable; additions without conc...
Managerial remuneration disallowance under s.40A(2)(b) challenged over alleged tax-avoidance; appellate decision restored deletion of addition for dir...
Classification of imported goods as electronic cigarette versus tobacco product reversed for lack of proof; order set aside for jurisdictional overrea...
At the discharge and charge-framing stage under the PMLA, the court reiterated that the enquiry is limited to whether the prosecution material, taken at face value, raises prima facie grave suspicion; the accused's defence and disputed explanations are not to be weighed at that stage. On the record, the court found sufficient material showing alleged bribery-linked layering, concealment and projection of proceeds as untainted property, so the refusal to discharge and framing of charge were upheld. Statements recorded under Section 50 PMLA were treated as admissible and capable of corroborating documentary evidence. The Special Court at Ranchi was also held to have territorial jurisdiction because the scheduled offence and alleged conspiracy were connected with Ranchi, and no patent illegality justified revisional interference.
At the discharge and charge-framing stage under the PMLA, the court reiterated that the enquiry is limited to whether the prosecution material, taken at face value, raises prima facie grave suspicion; the accused's defence and disputed explanations are not to be weighed at that stage. On the record, the court found sufficient material showing alleged bribery-linked layering, concealment and projection of proceeds as untainted property, so the refusal to discharge and framing of charge were upheld. Statements recorded under Section 50 PMLA were treated as admissible and capable of corroborating documentary evidence. The Special Court at Ranchi was also held to have territorial jurisdiction because the scheduled offence and alleged conspiracy were connected with Ranchi, and no patent illegality justified revisional interference.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
