Objective characteristics and principal use govern mining-tyre classification, while fresh advance ruling applications may rely on additional technica...
Administrative fraud classification suspension does not halt independent criminal investigation or warrant-based searches into alleged economic offenc...
HC held that the validity of FERA show-cause notices issued after repeal turned on whether the issuing officer had legal authority under the repeal-and-savings scheme in FEMA. Relying on the earlier co-ordinate Bench ruling in First Global Stockbroking Pvt. Ltd. v. R.M. Ramchandani, the Court held that the same officer was not empowered to act as adjudicating officer for notices under the repealed enactment. As no stay of that ruling existed and no distinguishing facts were shown, the notices were found to be without jurisdiction and were quashed.
HC held that the validity of FERA show-cause notices issued after repeal turned on whether the issuing officer had legal authority under the repeal-and-savings scheme in FEMA. Relying on the earlier co-ordinate Bench ruling in First Global Stockbroking Pvt. Ltd. v. R.M. Ramchandani, the Court held that the same officer was not empowered to act as adjudicating officer for notices under the repealed enactment. As no stay of that ruling existed and no distinguishing facts were shown, the notices were found to be without jurisdiction and were quashed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4792
Join Channel
TaxTMI 
