Three CBI Courts designated as Special Courts under PMLA in West Bengal

Three CBI Courts designated as Special Courts under PMLA in the State of West Bengal

MINISTRY OF FINANCE
(Department of Revenue)
NOTIFICATION

New Delhi, the 1st July, 2024

S.O. 2515(E).—In exercise of powers conferred by sub-section (1) of section 43 of the Prevention of Money Laundering Act, 2002 (15 of 2003) and in consultation with the Chief Justice of High Court of Judicature at Calcutta, the Central Government hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 372(E), dated the 5th February, 2016 published in the Gazette of India, Extraordinary, Part II, Section 3, sub-section (ii), namely:-

In the said notification, in the Table, against serial number 29 relating to the State of West Bengal, after the existing entries in Columns (3) and (4), the following entries shall be inserted, namely:-

[F. No. C-18015/3/2013-Ad.ED (Part-I)]

RAJEEV LOCHAN, Under Secy

Note: The principal Notification was published in the Gazette of India, Extraordinary, Part II, Section 3,
sub-section (ii) vide number S.O. 372(E), dated the 5th February, 2016.

• ITAT allows exemption of Rs. 25 lakhs u/s 10(10A) to non-government employees
• PCIT has revisionary jurisdiction u/s 263 over the cases passed by the NFAC or the JAO
• Appellate court interfering with MACT finding must undertake reappreciation of evidence
• When delay is not huge & involves huge monetary liability, lenient approach to be taken
• EoGM of company can not ratify diversion of fund raised by preferential issue – SC