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...
Sale of confiscated gold without notice was held contrary to the applicable departmental circular and the principles of natural justice, because para 3 extended notice protection even where appeal or other legal remedies had not been exhausted. The HC rejected the contention that confiscated goods could be auctioned without notice, and treated the non-issuance of notice as fatal to the sale. Since the gold had already been sold, redemption could not be made illusory: the later refund computation based on tariff value and transfer date was held untenable, and the petitioners were directed to receive the value of the gold on the date of the de novo redemption order, after statutory deductions.
Sale of confiscated gold without notice was held contrary to the applicable departmental circular and the principles of natural justice, because para 3 extended notice protection even where appeal or other legal remedies had not been exhausted. The HC rejected the contention that confiscated goods could be auctioned without notice, and treated the non-issuance of notice as fatal to the sale. Since the gold had already been sold, redemption could not be made illusory: the later refund computation based on tariff value and transfer date was held untenable, and the petitioners were directed to receive the value of the gold on the date of the de novo redemption order, after statutory deductions.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4824 
Join Channel 
