Imported analyser diagnostic cartridges treated as accessories with analyser system, not standalone diagnostic reagents; extended limitation and penal...
Steel-timber construction shuttering/formwork tariff classification dispute: essential character held steel, classified as shuttering under Heading 73...
Family-linked property purchases using fabricated loan agreements and benami-style arrangements held to be crime proceeds; attachment upheld, appeal d...
A sanctioned scheme of demerger vests specified assets in the resulting companies; those vested assets cannot be attached to satisfy the tax liability of the demerged transferor. The attachment impugned was held unsustainable as it targeted property vested in a resulting company, but the tax authority remains competent to attach those vested assets independently to recover the resulting company's own Wealth Tax liability. The petitioner is protected from penal consequences while statutory appeals filed under the Wealth Tax Act remain pending. Writ petition partly allowed with liberty as stated.
A sanctioned scheme of demerger vests specified assets in the resulting companies; those vested assets cannot be attached to satisfy the tax liability of the demerged transferor. The attachment impugned was held unsustainable as it targeted property vested in a resulting company, but the tax authority remains competent to attach those vested assets independently to recover the resulting company's own Wealth Tax liability. The petitioner is protected from penal consequences while statutory appeals filed under the Wealth Tax Act remain pending. Writ petition partly allowed with liberty as stated.
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