ESOP expenditure allowed as FMV difference; long-term capital gain issue sent back for collector rate determination; deferred income additions disallo...
Appeal allowed; impugned order quashed as regulator failed to prove nexus or manipulative scheme; sale genuine - s.12A(a)-(c), Regs 3(a)-(d),4(1),4(2)...
Appellant's ring-back tone service held OIDAR, taxable domestically for 01.07.2012-31.07.2016; liability confirmed, penalties vacated, remanded for re...
Page of 4830
Press 'Enter' after typing page number.
9361 to 9380 of 96587 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
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.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4830 
Join Channel 
