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...
CBDT circular timelines require prompt release of seized assets on furnishing adequate security, with special emphasis on jewellery due to valuation volatility; delays beyond the circular's 15 day period are arbitrary if unexplained and cannot prejudice petitioners for market value increases during delay. The note prescribes release of 901.030 grams of jewellery to claimants upon cross affidavits: a non objecting affidavit from one party and ownership affidavits from claimants; other seized items are ordered released against an existing bank guarantee, subject to filing of ownership and no objection affidavits prior to release.
CBDT circular timelines require prompt release of seized assets on furnishing adequate security, with special emphasis on jewellery due to valuation volatility; delays beyond the circular's 15 day period are arbitrary if unexplained and cannot prejudice petitioners for market value increases during delay. The note prescribes release of 901.030 grams of jewellery to claimants upon cross affidavits: a non objecting affidavit from one party and ownership affidavits from claimants; other seized items are ordered released against an existing bank guarantee, subject to filing of ownership and no objection affidavits prior to release.
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