Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
Specialized Investment Fund distribution now requires dedicated certification, while transitional recognition preserves existing qualified distributor...
The Calcutta High Court found a violation of principles of natural justice as the impugned order was passed without giving the petitioners an opportunity of hearing as required u/s 75(4) of the Act of 2017. Section 75(4) mandates a hearing when a request is made in writing or an adverse decision is contemplated. The court set aside the order and directed respondent no.1 to reconsider the show cause notice and reply after providing the petitioners with a hearing. The petition was disposed of accordingly.
The Calcutta High Court found a violation of principles of natural justice as the impugned order was passed without giving the petitioners an opportunity of hearing as required u/s 75(4) of the Act of 2017. Section 75(4) mandates a hearing when a request is made in writing or an adverse decision is contemplated. The court set aside the order and directed respondent no.1 to reconsider the show cause notice and reply after providing the petitioners with a hearing. The petition was disposed of accordingly.
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