Condonation of delay permits statutory appeal restoration where inadequate service explanation prevented consideration of reassessment and taxable-inc...
Limitation in customs appeals permits exclusion for bona fide refund proceedings, enabling restoration of Bill of Entry assessment challenges on merit...
Warehousing permission requires deposit at the designated bonded warehouse; unauthorised diversion triggers confiscation, redemption fine and importer...
Release of the Amount Seized along with interest u/s 132B(4) read with Rule 119A - Scope of the term 'shall release' - The High court held that the petitioner is entitled to interest if the assessing authority, upon examination, finds that the seized amount was duly explained and not required for satisfying any existing or likely tax demand. - The court interpreted the statutory provisions as directory, not mandatory, stating that the assessing authority's failure to decide within 120 days does not automatically entitle the petitioner to the release of the seized amount. - The writ petition was disposed of without granting the writ of Mandamus as prayed for by the petitioner. Instead, the court directed the Assessing Authority to decide on the petitioner's application within two weeks, ensuring a reasoned and speaking order after hearing the petitioner.
Release of the Amount Seized along with interest u/s 132B(4) read with Rule 119A - Scope of the term 'shall release' - The High court held that the petitioner is entitled to interest if the assessing authority, upon examination, finds that the seized amount was duly explained and not required for satisfying any existing or likely tax demand. - The court interpreted the statutory provisions as directory, not mandatory, stating that the assessing authority's failure to decide within 120 days does not automatically entitle the petitioner to the release of the seized amount. - The writ petition was disposed of without granting the writ of Mandamus as prayed for by the petitioner. Instead, the court directed the Assessing Authority to decide on the petitioner's application within two weeks, ensuring a reasoned and speaking order after hearing the petitioner.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4796
Join Channel
TaxTMI 
