Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
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Customs officials seized gold jewelry from petitioners on 23-02-2023. Section 110(2) of Customs Act, 1962 mandates issuing show cause notice u/s 124 within six months of seizure, failing which seized goods must be returned. Show cause notice was dispatched on 25-08-2023, beyond six-month period which lapsed on 22/23-08-2023. High Court held retention of seized jewelry by Customs officials illegal, violating Section 110(2). Writ petition allowed, directing respondents to forthwith release seized gold jewelry to petitioners.
Customs officials seized gold jewelry from petitioners on 23-02-2023. Section 110(2) of Customs Act, 1962 mandates issuing show cause notice u/s 124 within six months of seizure, failing which seized goods must be returned. Show cause notice was dispatched on 25-08-2023, beyond six-month period which lapsed on 22/23-08-2023. High Court held retention of seized jewelry by Customs officials illegal, violating Section 110(2). Writ petition allowed, directing respondents to forthwith release seized gold jewelry to petitioners.
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