Managerial remuneration disallowance under s.40A(2)(b) challenged over alleged tax-avoidance; appellate decision restored deletion of addition for dir...
Classification of imported goods as electronic cigarette versus tobacco product reversed for lack of proof; order set aside for jurisdictional overrea...
Reversal of input tax credit in proportion to exempt supply: specificity of show-cause notice required; order set aside, fresh proceedings allowed wit...
Seized jewellery/gold is not liable to automatic release merely on expiry of 120 days under the first proviso to Section 132B(1)(i), because Section 132B(4) prescribes interest as the consequence of delayed action, indicating the timeline is directory rather than mandatory. Accordingly, continued retention beyond 120 days only triggers statutory interest liability and does not, by itself, confer an enforceable right to immediate release. Further, writ jurisdiction under Article 226 cannot be used to direct release where the AO is seized of the matter, since adequacy of explanation and evidence regarding nature and source of acquisition must first be assessed and liability determined by the AO; the remedy lies in seeking release (including against bank guarantee) before the AO. - HC
Seized jewellery/gold is not liable to automatic release merely on expiry of 120 days under the first proviso to Section 132B(1)(i), because Section 132B(4) prescribes interest as the consequence of delayed action, indicating the timeline is directory rather than mandatory. Accordingly, continued retention beyond 120 days only triggers statutory interest liability and does not, by itself, confer an enforceable right to immediate release. Further, writ jurisdiction under Article 226 cannot be used to direct release where the AO is seized of the matter, since adequacy of explanation and evidence regarding nature and source of acquisition must first be assessed and liability determined by the AO; the remedy lies in seeking release (including against bank guarantee) before the AO. - HC
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