Concessional corporate tax option under section 115BAA survives procedural documentary lapses when statutory compliance and earlier exercise are estab...
The case involves attachment of immovable property jointly owned by appellant and brothers for government dues recovery. The attachment was done u/r 2(vi) of Rules of 1995 u/s 156 r/w. 142 of Customs Act, 1962. The property share is 20% appellant's and 80% brothers'. As partnership firm liability is joint u/s 25 of Indian Partnership Act, attaching entire property for firm's dues is improper. Interest u/s 11AB of Central Excise Act, 1944 not applicable pre-enactment. As dues paid, property attachment set aside, appeal allowed.
The case involves attachment of immovable property jointly owned by appellant and brothers for government dues recovery. The attachment was done u/r 2(vi) of Rules of 1995 u/s 156 r/w. 142 of Customs Act, 1962. The property share is 20% appellant's and 80% brothers'. As partnership firm liability is joint u/s 25 of Indian Partnership Act, attaching entire property for firm's dues is improper. Interest u/s 11AB of Central Excise Act, 1944 not applicable pre-enactment. As dues paid, property attachment set aside, appeal allowed.
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