Natural justice in insolvency-professional discipline requires disclosed material; notices based on extraneous material and ignored defences are vitia...
Development rights transfers treated as immovable property, while construction abatement applies and repeated non-payment permits extended service-tax...
SC held that the encashment of bank guarantees does not constitute payment of customs duty under Section 27 of the Customs Act. The respondents arbitrarily encashed bank guarantees without legal authorization, which constitutes unjust retention of funds. The Court directed immediate refund of the encashed amounts with 6% interest from the date of encashment, to be repaid within four months. The impugned High Court judgment was set aside, and the appeals were allowed without cost, affirming that the respondents had no legal right to retain the appellant's funds.
SC held that the encashment of bank guarantees does not constitute payment of customs duty under Section 27 of the Customs Act. The respondents arbitrarily encashed bank guarantees without legal authorization, which constitutes unjust retention of funds. The Court directed immediate refund of the encashed amounts with 6% interest from the date of encashment, to be repaid within four months. The impugned High Court judgment was set aside, and the appeals were allowed without cost, affirming that the respondents had no legal right to retain the appellant's funds.
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