The Appellate Tribunal confirmed the attachment of multiple properties linked to an NDPS convict, rejecting the spouse’s claims of legitimate acquisition. The ruling emphasized that unverified cash gifts and loans, and mere ITR filings, are insufficient to rebut the statutory presumption under Section 68J of the NDPS Act.
Learn the rules for set off and carry forward of income tax losses in India. Covers intra-head and inter-head adjustments, restrictions on capital and speculative losses, carry forward periods, and rules for unabsorbed depreciation.
ROC Mumbai imposed a ₹3,000 penalty on Nicco Securities and Directors for violating Section 12(3)(c) by failing to include the CIN on official letterheads and notices.
The Tribunal found the ED’s delayed prosecution complaint timely in view of the pandemic-related exclusion of limitation. It confirmed the attachment of Karti Chidambaram’s Jor Bagh property and bank accounts, rejecting claims of lapse under Section 8(3)(a).
ITAT ruled that the sale of a commercial property after six years due to prolonged vacancy and financial pressure is a capital transaction, not an adventure in trade. The income must be assessed as Long-Term Capital Gains.
ROC Chennai imposed maximum penalties on South Asian Financial Exchange Ltd. and its director for failing to file the 2014-15 annual return, following a Madras HC directive.
The Appellate Tribunal confirmed the attachment of 511 properties valued at Rs.96.05 crore, ruling they were proceeds from illegal granite mining. The judgment reaffirmed that money-laundering is a continuing offense, validating the attachment even for assets acquired before the PMLA came into force.
ROC Chennai issued an adjudication order against BON FRESH FOODS for violating rules related to preferential share allotment documentation. A lesser penalty was applied under Section 446B due to its DPIIT Start-up status.
ROC Chennai imposed a ₹1.5 lakh penalty on Bon Fresh Foods and Directors for violating Section 62(1)(c) by failing to secure a Registered Valuer’s report for CCPS allotment.
Finding procedural lapses in document disclosure, the Tribunal invalidated the ED’s order retaining ₹5.75 lakh seized from Gurudev Jewellers. It reaffirmed that all relied-upon documents must be provided to affected parties to ensure fair adjudication.
