Mechanical approval under search assessment law vitiates assessments when sanction lacks application of mind; retrospective curative provision cannot ...
Foreign portfolio investment liberalisation extends listed equity access to all individual persons resident outside India, subject to limit monitoring...
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Wrongful retention of seized Kisan Vikas Patras and Indira Vikas Patras after deposit of the settlement amount justified compensatory interest for loss of opportunity cost, but only from the date the settlement amount was paid until actual release. Because the Settlement Commission's direction to release the instruments after deposit had attained finality, no interest was payable for any earlier period. The amount awarded was treated as restitution for unjustified deprivation, not statutory refund interest, and the Court also allowed further simple interest at 4% per annum on that compensatory amount until payment.
Wrongful retention of seized Kisan Vikas Patras and Indira Vikas Patras after deposit of the settlement amount justified compensatory interest for loss of opportunity cost, but only from the date the settlement amount was paid until actual release. Because the Settlement Commission's direction to release the instruments after deposit had attained finality, no interest was payable for any earlier period. The amount awarded was treated as restitution for unjustified deprivation, not statutory refund interest, and the Court also allowed further simple interest at 4% per annum on that compensatory amount until payment.
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