Commitment proceedings gain extended timelines, structured defect refiling, and automatic resumption of inquiry after the adjusted completion period e...
Centralised assessment transfer becomes unwarranted once the searched person's assessment is complete, requiring restoration to the appropriate charge...
Co-operative deduction eligibility excludes refund and commercial-bank interest, while qualifying co-operative investments require entity-wise verific...
Enhanced tax rate on surrendered unexplained income applies prospectively, while cash-deposit telescoping requires verification of available surrender...
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Proviso to Section 68 allows an owner of warehoused goods to relinquish title at any time before an order for clearance for home consumption, and that relinquishment removes liability to customs duty unless an offence appears to have been committed. The text further states that relinquishment after issue of a show-cause notice does not by itself take away this benefit. On the stated facts, no offence under the Customs Act, 1962 was found, so the demands of duty, redemption fine and penalty were not sustainable.
Proviso to Section 68 allows an owner of warehoused goods to relinquish title at any time before an order for clearance for home consumption, and that relinquishment removes liability to customs duty unless an offence appears to have been committed. The text further states that relinquishment after issue of a show-cause notice does not by itself take away this benefit. On the stated facts, no offence under the Customs Act, 1962 was found, so the demands of duty, redemption fine and penalty were not sustainable.
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