Development agreements require legal possession or effective enjoyment for capital gains transfer; permissive possession and deferred consideration de...
Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
The HC set aside the Order-in-Original detaining petitioner's gold jewelry, finding violations of natural justice principles as no proper hearing was afforded and consent for waiving show cause notice was improperly obtained through a standard performa. Following established precedent that personal gold jewelry is not subject to confiscation, the court determined the detained gold chain constituted personal jewelry exempt from seizure. The respondent department's failure to provide proper notice and hearing rendered the impugned order unsustainable. The court directed the release of the petitioner's gold item within four weeks and disposed of the petition accordingly.
The HC set aside the Order-in-Original detaining petitioner's gold jewelry, finding violations of natural justice principles as no proper hearing was afforded and consent for waiving show cause notice was improperly obtained through a standard performa. Following established precedent that personal gold jewelry is not subject to confiscation, the court determined the detained gold chain constituted personal jewelry exempt from seizure. The respondent department's failure to provide proper notice and hearing rendered the impugned order unsustainable. The court directed the release of the petitioner's gold item within four weeks and disposed of the petition accordingly.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4796
Join Channel
TaxTMI 
