Transfer pricing comparables selection and working capital adjustment u/r 10B(1)(e)(iii), remanded for recomputation with rejected comparables include...
Company oppression/mismanagement petition amendments and maintainability after alleged share transfer and forgery claims; tribunal order quashed for l...
HC held that seizure and continued retention of petitioner's 48 grams gold coins by Customs was unsustainable due to non-issuance of a statutory SCN under Section 124 read with Section 110(2) of the Customs Act. Rejecting the Department's contention of an "oral" SCN, HC followed binding precedent that, absent a proper notice within the prescribed period, seized goods must be returned. As no SCN was issued, no oral hearing afforded, and the goods remained with Customs, HC directed unconditional release of the seized gold coins to the petitioner, subject only to fulfilment of conditions stipulated by the Department.
HC held that seizure and continued retention of petitioner's 48 grams gold coins by Customs was unsustainable due to non-issuance of a statutory SCN under Section 124 read with Section 110(2) of the Customs Act. Rejecting the Department's contention of an "oral" SCN, HC followed binding precedent that, absent a proper notice within the prescribed period, seized goods must be returned. As no SCN was issued, no oral hearing afforded, and the goods remained with Customs, HC directed unconditional release of the seized gold coins to the petitioner, subject only to fulfilment of conditions stipulated by the Department.
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