Attachment and proclamation of sale of immovable property: limitation treated from financial year end; proclamation held within period, petition dismi...
Second Schedule attachment and validity of a post-notice mortgage: TRO cannot declare mortgage void ab initio; sale and appropriation allowed thereaft...
Limitation for final assessment under sections 144C and 153 treated jointly, resulting in quashing of timebarred assessment order and liberty to reviv...
Deductibility of settlement payments for securities law penalties and treatment of unexplained cash credits in share trading -- Tribunal upholds posit...
Threshold for allottee-initiated insolvency petitions in leasehold real estate upheld; petition admitted after possession letters deemed legally ineff...
Contravention of foreign exchange rules in crossborder diamond payments; appellate tribunal reduces one appellant's penalty for delay and proportional...
Failure to issue a show cause notice within the period prescribed under s.110(2) of the Customs Act, 1962 was held to vitiate continued retention of seized Indian currency, since any seizure effected under s.110(1) mandatorily attracts strict compliance with s.110(2) irrespective of whether the currency was seized from a passenger or otherwise; consequently, the seizure memo was quashed and return of the currency was directed. On ownership, the petitioner's claim was accepted on the basis of supporting documents including tax return and balance sheet, with the undisputed familial relationship to the person from whose custody the currency was recovered; consequently, release was ordered within eight weeks. - HC
Failure to issue a show cause notice within the period prescribed under s.110(2) of the Customs Act, 1962 was held to vitiate continued retention of seized Indian currency, since any seizure effected under s.110(1) mandatorily attracts strict compliance with s.110(2) irrespective of whether the currency was seized from a passenger or otherwise; consequently, the seizure memo was quashed and return of the currency was directed. On ownership, the petitioner's claim was accepted on the basis of supporting documents including tax return and balance sheet, with the undisputed familial relationship to the person from whose custody the currency was recovered; consequently, release was ordered within eight weeks. - HC
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