Form 26AS evidence requires successor-entity accounting verification after business transfer, while invoice-supported related-party advertising expend...
Money-laundering judgment timing requires awaiting the scheduled-offence decision despite continuation of the underlying trial where outcomes directly...
Accredited investor eligibility expands through securities-market exposure, while alternative investment fund disputes require prescribed resolution a...
Customs Assessment Portal centralises classification and valuation guidance to support consistent, transparent and informed compliance across stakehol...
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HC held that respondents must release seized jewellery immediately, as retention lacks legal authority. The seizure was deemed unauthorized since no outstanding tax liability existed for the relevant assessment year. The court found respondents' contention to retain jewellery for recovering tax dues from subsequent years untenable, particularly given statutory amendments to Section 132B effective 01.04.2022. Consequently, the HC directed unconditional release of the jewellery to the petitioner, emphasizing the respondents acted without jurisdiction in prolonged retention beyond the specified assessment period.
HC held that respondents must release seized jewellery immediately, as retention lacks legal authority. The seizure was deemed unauthorized since no outstanding tax liability existed for the relevant assessment year. The court found respondents' contention to retain jewellery for recovering tax dues from subsequent years untenable, particularly given statutory amendments to Section 132B effective 01.04.2022. Consequently, the HC directed unconditional release of the jewellery to the petitioner, emphasizing the respondents acted without jurisdiction in prolonged retention beyond the specified assessment period.
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