Handicraft job work receives concessional GST only for registered principals and predominantly handmade goods; commercial resin articles remain taxabl...
Reassessment disclosure requirements permit stated reasons without revealing information sources, but prior-taxation claims require full examination b...
Independent assessment discretion and corroborated electronic evidence determine validity of on-money additions and undisclosed-consideration assessme...
Section 37A of FEMA, 1999 authorizes seizure of assets equivalent in value to foreign exchange, foreign securities, or immovable property held outside India in contravention of the Act. The threshold for invoking Section 37A is low, requiring mere reason to suspect such contravention. Information received under tax treaties can be used for initiating action u/s 37A. Seizure u/s 37A does not amount to confiscation, which can only happen after adjudication proceedings. The provision applies to continuing offenses, even if the alleged contravention occurred before its introduction in 2015, as long as the property is held after the provision came into effect. The appeal challenging the seizure order u/s 37A was dismissed.
Section 37A of FEMA, 1999 authorizes seizure of assets equivalent in value to foreign exchange, foreign securities, or immovable property held outside India in contravention of the Act. The threshold for invoking Section 37A is low, requiring mere reason to suspect such contravention. Information received under tax treaties can be used for initiating action u/s 37A. Seizure u/s 37A does not amount to confiscation, which can only happen after adjudication proceedings. The provision applies to continuing offenses, even if the alleged contravention occurred before its introduction in 2015, as long as the property is held after the provision came into effect. The appeal challenging the seizure order u/s 37A was dismissed.
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