The SC permitted the Enforcement Directorate to finalize the ...

Enforcement Directorate Allowed to Finalize Rs. 40 Crore Property Sale While Accused Must Deposit Rs. 25 Crores or Face Bail Cancellation

March 11, 2025

Case Laws Money Laundering SC

The SC permitted the Enforcement Directorate to finalize the sale of one property valued at approximately Rs. 40 crores, while directing immediate fresh auction of a second property following a failed first attempt. The Court maintained its previous order requiring the accused to deposit Rs. 25 crores within three months, failing which bail would be automatically cancelled without further orders, allowing the Enforcement Directorate to take the accused into custody. The Court indicated it would cease monitoring the litigation if the accused returned to custody. The ED was instructed to proceed with auctioning all attached properties to maximize recovery. The Court determined the petitioner's miscellaneous application was maintainable based on the proposal presented.

View Source

← Previous Next →

The SC permitted the Enforcement Directorate to finalize the ...

Enforcement Directorate Allowed to Finalize Rs. 40 Crore Property Sale While Accused Must Deposit Rs. 25 Crores or Face Bail Cancellation

March 11, 2025

Case Laws Money Laundering SC

You may also like:

Assessee was granted deduction u/s 54F as evidence of construction of residential house worth Rs. 1.25 crore on ancestral land using funds from sale of agricultural land...

Sub-section (1) in Section 5 amended to not levy integrated tax on Extra Neutral Alcohol used for manufacturing alcoholic liquor for human consumption. Section 6A...

ITAT deleted the addition of Rs. 1.50 crore made by AO invoking the provisons of Section 40(a)(ia) read with section 194C - Tribunal while deleting the addition made...

The Income Tax Appellate Tribunal allowed the assessee's appeal against the reopening of assessment u/s 148A of the Income Tax Act. The Assessing Officer had alleged...

The case pertains to allegations of money laundering, charging of illegal commissions, sale of unaccounted illicit country liquor using holograms, and payment of annual...

Jurisdiction of Single Member Bench of the Income Tax Appellate Tribunal - Monetary limit Rs.50 lakhs for hearing Appeal - In the present case, the assessee returned...

Penalty u/s 271B - no tax audit conducted u/s 44AB - bonafide belief - When Gross profit is more than Rs.4 crores, it means the Gross Receipts were definitely more than...

Direct tax collections for FY 2023-24 as of 17.06.2023 show net collections of Rs. 3,79,760 crore, a growth of 11.18% compared to the preceding year. - Gross collections...

The HC allowed the petition filed u/s 482 CrPC. It set aside the trial court's condition directing the petitioner, accused of fraudulently availing Input Tax Credit...

The Indian Finance Minister's upcoming FY2025-26 Budget presentation focuses on critical fiscal metrics and consolidation targets. The government aims to reduce fiscal...

The assessee, a domestic company, contested the tax rate applied by the authorities for the assessment year 2018-19. The Finance Act, 2017 introduced a concessional tax...

The assessee, a sole proprietor running a petrol pump allotted by BPCL, deposited unexplained cash in the current bank account. The AO invoked Section 69A and made an...

Recovery of tax dues - Right of auction purchaser of the property - Since the petitioner had purchased in the auction sale conducted by the bank under the provisions of...

The petitioner was granted bail by the High Court in a money laundering case under the Prevention of Money Laundering Act (PMLA). The court held that the Enforcement...

Income from house property - one is self occupied property and second is vacant property - AO has applied ALV at 7% of book value of the property and computed deemed...

Quick Updates: