Tax authority's substitution of projected figures with actuals overturned; original acquisition valuation upheld; transfer pricing issues remitted for...
Beneficial owner held liable for differential customs duty; royalties added under Rule 10(1)(c); confiscation, penalties under s.111(m), s.114A, s.112...
The HC held that a provisional attachment effected under s.83 of the KGST/CGST Act expired on completion of the statutory one-year period and that a subsequent attachment purportedly made the following day was ultra vires, without jurisdiction and void ab initio. The second provisional attachment was quashed as illegal and arbitrary. The petition was allowed and disposed of; the petitioner is entitled to operate the bank account previously subject to attachment. The court treated the expired first order as terminating the authority to continue or renew provisional attachment beyond the maximum statutory period, rendering any post-expiry measure ineffective.
The HC held that a provisional attachment effected under s.83 of the KGST/CGST Act expired on completion of the statutory one-year period and that a subsequent attachment purportedly made the following day was ultra vires, without jurisdiction and void ab initio. The second provisional attachment was quashed as illegal and arbitrary. The petition was allowed and disposed of; the petitioner is entitled to operate the bank account previously subject to attachment. The court treated the expired first order as terminating the authority to continue or renew provisional attachment beyond the maximum statutory period, rendering any post-expiry measure ineffective.
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