The issue was whether properties purchased using company funds could escape benami classification. The Tribunal held that unexplained sources and cash routing justified treating transactions as benami.
The Tribunal ruled that transactions predating the alleged crime cannot be treated as proceeds of crime without a clear link. It set aside most attachments due to absence of foundational evidence. The decision reinforces the necessity of establishing a direct nexus under PMLA.
The case involved a penalty imposed despite the main tax demand being set aside in appeal. The Court held that the petitioner should seek rectification before the proper officer.
The Court addressed the issue where the GST portal prevented filing of a revocation application due to time limits. It allowed manual submission and directed authorities to consider it.
The Court refused to entertain the writ as a statutory appeal remedy existed under the Finance Act. It allowed the petitioner to approach CESTAT with delay condonation.
The issue was whether properties unconnected to crime could be attached under PMLA. The Tribunal held that equivalent value assets can be attached when proceeds of crime are untraceable.
Delhi High Court held that challenge to reassessment proceedings initiated under Income Tax Act failed as Court cannot act as an AO and call such documents which otherwise can be done by AO. Accordingly, petition dismissed.
Supreme Court held that a detenu has no right of being represented by the counsel in the proceedings before the Advisory Board. Accordingly, detention order of detenu indulged in gold smuggling activities upheld as satisfaction of the Detaining Authority is a subjective one.
he Court declined to examine merits as the petitioner did not file a reply to the impugned communication. It directed submission of response and continuation of proceedings.
The Tribunal ruled that taxation of income does not negate its use in benami transactions. Even disclosed or assessed income can form part of a benami arrangement. The judgment clarifies the independent scope of benami law.
