Tuesday, August 21, 2018

Property purchased from Vijay Mallya could not be attached under PMLA on payment of entire consideration

PMLA : Where appellant had purchased a property from Vijay Mallaya of Kingfisher Airlines who was accused under PMLA , property of appellant could not be attached as appellant was not linked to accused and was not involved in money laundering and had become stake holder by making entire payment which were not proceeds of crime

from www.taxmann.com Latest Case Laws https://ift.tt/2nWxqCe

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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

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