Personal guarantor insolvency jurisdiction follows the corporate debtor's CIRP Bench, enabling inter-territorial transfer and preventing parallel proc...
Section 47-A undervaluation threshold: fraudulent intent requirement faces reconsideration after referral to a larger Bench for authoritative resoluti...
RBI supersession powers over multi-State co-operative banks operate independently of the constitutional six-month ceiling and permit statutory extensi...
Non-compliance with import conditions for restricted gold...
Restricted gold import conditions: breach permits absolute confiscation, while redemption remains discretionary and is rarely disturbed on writ review.
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Non-compliance with import conditions for restricted gold renders the goods prohibited for confiscation purposes, whether the items are treated as gold bars or jewellery. Failure to meet eligible passenger, declaration and permissible-import requirements may support absolute confiscation. Redemption under Section 125 is discretionary rather than a right. Non-declaration, concealment and surrounding circumstances may justify refusal of redemption on payment of fine. Writ review does not ordinarily disturb that discretionary decision unless it is perverse or arbitrary. Absolute confiscation of the gold ornaments and refusal to permit redemption were upheld.
Non-compliance with import conditions for restricted gold renders the goods prohibited for confiscation purposes, whether the items are treated as gold bars or jewellery. Failure to meet eligible passenger, declaration and permissible-import requirements may support absolute confiscation. Redemption under Section 125 is discretionary rather than a right. Non-declaration, concealment and surrounding circumstances may justify refusal of redemption on payment of fine. Writ review does not ordinarily disturb that discretionary decision unless it is perverse or arbitrary. Absolute confiscation of the gold ornaments and refusal to permit redemption were upheld.
Note: It is a system-generated summary and is for quick reference only.