Alternative statutory remedy and unexplained delay barred writ review of customs confiscation adjudication, leaving merits for appellate consideration...
Authorised courier due diligence protects against penalties where declared exports conceal prohibited goods despite proper documentation and customs p...
Customs-controlled container movement now extends to DP World facilities, subject to segregation, inspections, reconciliation, and EXIM cargo priority...
HC invalidated reassessment proceedings initiated under s.147 for AY 2014-15. AO's reliance solely on insight portal information regarding transactions with ASE Capital Markets Ltd was deemed mechanical and without independent application of mind. The assessee had fully disclosed F&O losses of Rs.41,56,218 in original return, accepted under s.143(3). AO failed to explain why only Rs.27,61,650 was considered non-genuine. No tangible material or verification supported the reopening, and AO's belief was based on borrowed satisfaction without considering existing assessment records. Court found no failure by assessee to disclose material facts, making reopening after four years unjustified as it merely reflected change of opinion.
HC invalidated reassessment proceedings initiated under s.147 for AY 2014-15. AO's reliance solely on insight portal information regarding transactions with ASE Capital Markets Ltd was deemed mechanical and without independent application of mind. The assessee had fully disclosed F&O losses of Rs.41,56,218 in original return, accepted under s.143(3). AO failed to explain why only Rs.27,61,650 was considered non-genuine. No tangible material or verification supported the reopening, and AO's belief was based on borrowed satisfaction without considering existing assessment records. Court found no failure by assessee to disclose material facts, making reopening after four years unjustified as it merely reflected change of opinion.
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