Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
Employee conflict disclosures and investment restrictions expand with new recusal duties, post-employment limits, and compliance reporting requirement...
The HC held that the detention of the petitioner's two gold bangles by Customs was unlawful due to the absence of a show cause notice and denial of personal hearing, violating principles of natural justice under Section 124 of the Customs Act. The court rejected reliance on a pre-printed waiver for these procedural safeguards. The jewellery, worn as personal effects during a religious pilgrimage, fell within exemptions under the relevant customs rules. Since the mandatory show cause notice was not issued within the prescribed one-year period, the continued seizure was impermissible. Consequently, the court set aside the detention order and directed the immediate release of the jewellery to the petitioner within two weeks. The petition was accordingly disposed of.
The HC held that the detention of the petitioner's two gold bangles by Customs was unlawful due to the absence of a show cause notice and denial of personal hearing, violating principles of natural justice under Section 124 of the Customs Act. The court rejected reliance on a pre-printed waiver for these procedural safeguards. The jewellery, worn as personal effects during a religious pilgrimage, fell within exemptions under the relevant customs rules. Since the mandatory show cause notice was not issued within the prescribed one-year period, the continued seizure was impermissible. Consequently, the court set aside the detention order and directed the immediate release of the jewellery to the petitioner within two weeks. The petition was accordingly disposed of.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4801
Join Channel
TaxTMI 
