Customs exemptions cover photovoltaic assembly machinery and PVF backsheets, while fully declared cleared imports may avoid confiscation and penalties...
Specific tariff classification for LCD devices overrides treatment as electricity-meter parts, defeating differential duty, extended limitation, and p...
Stayed disciplinary punishment does not establish unfitness for insolvency professional registration; reconsideration must disregard mere pendency of ...
Indirect corporate control can create related-party status, excluding financial creditors from Committee of Creditors representation, participation an...
Scientific research association approval requires continuing SIRO status, annual donation reporting, and donor certificates for the approved foundatio...
Scientific research institution approval is conditional on SIRO recognition, annual donation reporting, donor certification, and prescribed compliance...
Section 132B's reference to a "person concerned" extends to a third-party claimant whose ownership of cash seized from another person's premises has been established in benami proceedings. Ownership establishes standing to seek release but does not itself satisfy the statutory conditions for release. The first proviso requires an application within the prescribed period explaining the nature and source of acquisition to the Assessing Officer's satisfaction; a bare release request is inadequate. Release was not accepted where the application was late and omitted that explanation, while source-related assessment proceedings remained pending or contemplated. Questions on the provisos' effect, including expiry of 120 days, were referred to a Larger Bench.
Section 132B's reference to a "person concerned" extends to a third-party claimant whose ownership of cash seized from another person's premises has been established in benami proceedings. Ownership establishes standing to seek release but does not itself satisfy the statutory conditions for release. The first proviso requires an application within the prescribed period explaining the nature and source of acquisition to the Assessing Officer's satisfaction; a bare release request is inadequate. Release was not accepted where the application was late and omitted that explanation, while source-related assessment proceedings remained pending or contemplated. Questions on the provisos' effect, including expiry of 120 days, were referred to a Larger Bench.
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TaxTMI 
TaxTMI 
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