Jurisdictional validity of revision notices: incorrect official capacity and mere change of opinion invalidate revision of property income assessments...
Bogus-purchase additions are limited to embedded profit where corresponding sales are accepted, while accommodation-entry information can support reas...
Freezing of a bank account under section 110(5) of the Customs Act may initially continue for six months and be extended once for a further six months only on recorded written reasons. Issuance of a show-cause notice does not preserve investigating authorities' power to continue the freeze beyond the statutory maximum of twelve months. As the maximum period had expired, the High Court found a prima facie basis for de-freezing and directed the bank to de-freeze the account forthwith.
Freezing of a bank account under section 110(5) of the Customs Act may initially continue for six months and be extended once for a further six months only on recorded written reasons. Issuance of a show-cause notice does not preserve investigating authorities' power to continue the freeze beyond the statutory maximum of twelve months. As the maximum period had expired, the High Court found a prima facie basis for de-freezing and directed the bank to de-freeze the account forthwith.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4881 
