Fair market value under section 50C must reflect existing property condition, not hypothetical development, and statutory valuation steps must be foll...
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.
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