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...
Interim release of seized cash to the Income Tax Department was treated as a protective arrangement pending determination of its source, tax liability and ownership. The Trial Court required an indemnity bond and deposit of the amount in a nationalised bank fixed deposit with automatic renewal, preserving the parties' positions until final adjudication. The High Court found that this arrangement caused no prejudice warranting intervention under Articles 226 and 227, as all substantive issues remained open. The criminal petition challenging the interim arrangement was dismissed, while the income-tax proceedings were to be concluded expeditiously and further relief could be sought before the Trial Court.
Interim release of seized cash to the Income Tax Department was treated as a protective arrangement pending determination of its source, tax liability and ownership. The Trial Court required an indemnity bond and deposit of the amount in a nationalised bank fixed deposit with automatic renewal, preserving the parties' positions until final adjudication. The High Court found that this arrangement caused no prejudice warranting intervention under Articles 226 and 227, as all substantive issues remained open. The criminal petition challenging the interim arrangement was dismissed, while the income-tax proceedings were to be concluded expeditiously and further relief could be sought before the Trial Court.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4782
Join Channel
TaxTMI 
