Allocation of registration charges: contractual clause overriding statutory presumption allowed as deduction against capital gain after unrebutted doc...
Expenditure tied to investments yielding exempt income restricted to attributable costs; broader disallowance disallowed and adjustments to WDV and mi...
Admissibility of Investigative Statements invalidated reliance on coerced emails and valuation redetermination, resulting in set aside of penalties an...
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Gold and gold jewellery seized pending adjudication may be provisionally released under Section 110A where the goods are not prohibited for import and redemption would remain available under Section 125 even on confiscation. Mere allegations in a show cause notice or investigation record are not, by themselves, enough to refuse release. On the facts, the stock register supported licit procurement and possession, so the balance of convenience favoured release. The Tribunal allowed provisional release subject to execution of a bond for the full value of the goods and a bank guarantee for 50% of the gold value with an auto-renewal clause, with release to follow within the stipulated time.
Gold and gold jewellery seized pending adjudication may be provisionally released under Section 110A where the goods are not prohibited for import and redemption would remain available under Section 125 even on confiscation. Mere allegations in a show cause notice or investigation record are not, by themselves, enough to refuse release. On the facts, the stock register supported licit procurement and possession, so the balance of convenience favoured release. The Tribunal allowed provisional release subject to execution of a bond for the full value of the goods and a bank guarantee for 50% of the gold value with an auto-renewal clause, with release to follow within the stipulated time.
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