Co-operative society's mandatory reserve and share capital fixed deposits with banks-interest treated as business income under 80P(2)(a)(iii) deductio...
Income tax reassessment reopening after four years on investigation tip, without s.147 proviso disclosure failure, struck down as borrowed satisfactio...
Challenge to a seizure notice concerning import of perishable goods under a duty-free authorization turned on whether the notice was issued without authority of law and whether the goods were freely importable under the authorization. Given the perishability and the prima facie support from cited precedents, the Court balanced competing interests by directing the adjudicating authority to grant a personal hearing on a specified date, receive the importer's explanation and relied-upon authorities, and then pass a final order on whether any further action could be taken pursuant to the seizure notice within one week of receiving the explanation; the writ petition was disposed of with these directions. - HC
Challenge to a seizure notice concerning import of perishable goods under a duty-free authorization turned on whether the notice was issued without authority of law and whether the goods were freely importable under the authorization. Given the perishability and the prima facie support from cited precedents, the Court balanced competing interests by directing the adjudicating authority to grant a personal hearing on a specified date, receive the importer's explanation and relied-upon authorities, and then pass a final order on whether any further action could be taken pursuant to the seizure notice within one week of receiving the explanation; the writ petition was disposed of with these directions. - HC
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