Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
Quashing of predicate proceedings for lack of investigative jurisdiction removes the subsisting nexus required between alleged proceeds of crime and criminal activity relating to a scheduled offence. Where the predicate prosecution against a person is quashed in its entirety, and that order remains operative and unchallenged, the Enforcement Directorate cannot independently preserve or notionally revive the predicate offence for money-laundering proceedings. Proceedings against other accused cannot establish the missing statutory nexus attributable to that person. PMLA summons and consequential proceedings were quashed, with liberty to initiate fresh proceedings if the predicate prosecution is lawfully restored or revived.
Quashing of predicate proceedings for lack of investigative jurisdiction removes the subsisting nexus required between alleged proceeds of crime and criminal activity relating to a scheduled offence. Where the predicate prosecution against a person is quashed in its entirety, and that order remains operative and unchallenged, the Enforcement Directorate cannot independently preserve or notionally revive the predicate offence for money-laundering proceedings. Proceedings against other accused cannot establish the missing statutory nexus attributable to that person. PMLA summons and consequential proceedings were quashed, with liberty to initiate fresh proceedings if the predicate prosecution is lawfully restored or revived.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4918 
