Home Highlights January 2018 Year 2018 This

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1. Validity of the provisional attachment order - Money Laundering - The authorities, after elaborate discussion, made a finding that he has a reason to believe that the...

2. The Appellate Tribunal set aside the impugned order of the Adjudicating Authority attaching immovable properties under the Prevention of Money Laundering Act, 2002...

3. Offense under PMLA - attachment orders - assets acquired prior to enactment of PMLA - It is noteworthy that the phrase ‘reason to believe’ has a specific connotation in...

4. Reopening of assessment u/s 147 - reason to believe - Claim of deduction on account of payment made to settle a class action suit - AO observed the same as in the nature...

5. Reopening of assessment u/s 147 - reasons to suspect OR reasons to believe - Power u/s 147 cannot be exercised merely on reason of suspicion but there should be reason to believe.

6. Reopening of assessment u/s 147 - Reasons to believe or suspect - huge share transaction - The court held that the reasons provided by the Assessing Officer for...

7. Money Laundering - scheduled offence - proceeds of crime - There is a distinct difference in the reason to believe appearing in Section 17 and the reason to believe in...

8. Revision u/s 263 by CIT - reopening of assessment u/s 147 - "reason to suspect" v/s 'reason to believe' - Information adverse may trigger "reason to suspect" and not...

9. Seeking grant of regular bail - the High court noted the absence of a predicate offense or ongoing investigation related to a scheduled offense, aligning with the...

10. Reopening of assessment u/s 147 - Eligibility of reason to believe - “Reason to believe” or ‘Reasons to suspect” - According to us, when the AO receives information of...

11. Money laundering case involving scheduled offence and proceeds of crime. Trust property attached under PMLA despite Trust being bona fide receiver without knowledge of...

12. Reopening of assessment - reason to believe or reason to suspect - The ITAT examined the "reasons recorded" by the AO for reopening the assessment. It noted that the AO...

13. Reopening of assessment u/s 147 was invalid as statement recorded during survey cannot be solely relied upon without tangible material. Admission of additional income by...

14. Reopening of assessment u/s 147 - reason to believe - the reassessment proceedings were triggered without the AO applying his own mind and articulating his reasons as to...

15. Reopening of assessment u/s 147 - Reasons to believe - AO was not having any reason to believe for initiating re-assessment - There cannot be any re-assessment for a...