Section 47-A undervaluation threshold: fraudulent intent requirement faces reconsideration after referral to a larger Bench for authoritative resoluti...
RBI supersession powers over multi-State co-operative banks operate independently of the constitutional six-month ceiling and permit statutory extensi...
Charitable sports promotion: sponsorship receipts alone did not defeat registration where funds supported tournaments and player development activitie...
Equivalent-value attachment under the Prevention of Money-Laundering Act requires that proceeds of crime have been passed on or layered and are unavailable with the person or entity to whom they were laundered. Attachment was not justified where subsidiary companies had no established money trail to the alleged kickback. Provisional attachment also requires a real likelihood that confiscation will be frustrated; mortgaged properties subject to admitted insolvency proceedings could be sold or transferred only under National Company Law Tribunal orders. The confirmation order was set aside, and the properties remained subject to the insolvency proceedings.
Equivalent-value attachment under the Prevention of Money-Laundering Act requires that proceeds of crime have been passed on or layered and are unavailable with the person or entity to whom they were laundered. Attachment was not justified where subsidiary companies had no established money trail to the alleged kickback. Provisional attachment also requires a real likelihood that confiscation will be frustrated; mortgaged properties subject to admitted insolvency proceedings could be sold or transferred only under National Company Law Tribunal orders. The confirmation order was set aside, and the properties remained subject to the insolvency proceedings.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4918 
