Payment of sale proceeds: balance unpaid to owner after prescribed period to be paid to Central Government. Amendment inserts a proviso in sub section (2) of section 150 providing that if the owner cannot be paid the balance of sale proceeds within the statutory period or any further period the Commissioner allows, the balance of sale proceeds shall be paid to the Central Government; the proviso maintains the Commissioner's discretion to extend the payment period but directs unpayable balances to the government after sale of un cleared imported goods.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Payment of sale proceeds: balance unpaid to owner after prescribed period to be paid to Central Government.
Amendment inserts a proviso in sub section (2) of section 150 providing that if the owner cannot be paid the balance of sale proceeds within the statutory period or any further period the Commissioner allows, the balance of sale proceeds shall be paid to the Central Government; the proviso maintains the Commissioner's discretion to extend the payment period but directs unpayable balances to the government after sale of un cleared imported goods.
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