Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
HC held that seizure under Customs Act s.110(1) requires proper officer to record specific written reasons demonstrating belief that goods are liable for confiscation. Mere citation of statutory provisions without explaining their applicability is insufficient. While the seizure memo was quashed for lacking detailed grounds, the show cause notice was sustained. The court emphasized that goods must be returned if notice under s.124(a) is not issued within 6 months of seizure, subject to valid extensions. Though provisional release occurred after 6 months with two 3-month extensions, investigation can proceed under Customs Act despite invalidation of seizure. The ruling balances procedural safeguards with enforcement powers.
HC held that seizure under Customs Act s.110(1) requires proper officer to record specific written reasons demonstrating belief that goods are liable for confiscation. Mere citation of statutory provisions without explaining their applicability is insufficient. While the seizure memo was quashed for lacking detailed grounds, the show cause notice was sustained. The court emphasized that goods must be returned if notice under s.124(a) is not issued within 6 months of seizure, subject to valid extensions. Though provisional release occurred after 6 months with two 3-month extensions, investigation can proceed under Customs Act despite invalidation of seizure. The ruling balances procedural safeguards with enforcement powers.
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