Mechanical approval under search assessment law vitiates assessments when sanction lacks application of mind; retrospective curative provision cannot ...
Foreign portfolio investment liberalisation extends listed equity access to all individual persons resident outside India, subject to limit monitoring...
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Validity of SCN issued - Power of trial court to accept the challenge the validity of SCN - Prosecution proceedings against the accused - applicability of time limitation - imposition of cost upon the Central Excise Officer - The Trial Court has not considered the provision of Section 40(2) of the Act which clearly does not apply to the departmental proceedings and only applies for initiation of suit or prosecution. Therefore, in view of the facts and legal provisions, it is clearly found that the Trial Court has committed error in declaring the show cause notice as illegal and time barred. - HC
Validity of SCN issued - Power of trial court to accept the challenge the validity of SCN - Prosecution proceedings against the accused - applicability of time limitation - imposition of cost upon the Central Excise Officer - The Trial Court has not considered the provision of Section 40(2) of the Act which clearly does not apply to the departmental proceedings and only applies for initiation of suit or prosecution. Therefore, in view of the facts and legal provisions, it is clearly found that the Trial Court has committed error in declaring the show cause notice as illegal and time barred. - HC
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