Infrastructure-development deduction remains available to EPC contractors when substantive statutory conditions outweigh contractor labels in agreemen...
Explained Investment Sources: documented gifts and traceable salary savings supported deletion of additions for property and mutual-fund SIP investmen...
Internal comparable pricing supports arm's-length interest on compulsorily convertible debentures, preventing their recharacterisation as equity for t...
Nominee director protection shields independent financial-institution appointees from criminal liability where they lack involvement in deposit defaul...
The High Court held that seized gold ornaments must be returned forthwith as the Revenue failed to comply with Section 124 of the Act, which requires issuance of a show cause notice before confiscation. The petition was allowed, directing the Revenue to release the seized item to the petitioner immediately. The petitioner expressed desire to re-export the item, which shall be considered upon application in accordance with law.
The High Court held that seized gold ornaments must be returned forthwith as the Revenue failed to comply with Section 124 of the Act, which requires issuance of a show cause notice before confiscation. The petition was allowed, directing the Revenue to release the seized item to the petitioner immediately. The petitioner expressed desire to re-export the item, which shall be considered upon application in accordance with law.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4891 
