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...
HC considered whether an existing Prohibition Order and Seizure Order could continue after remand where no confiscation proposal under Section 67(2) had been issued. The court observed no de novo orders were passed post-remand and, because notices did not propose confiscation, held that continuation of prohibition or seizure could not be sustained. Consequently the impugned Prohibition and Seizure Orders were quashed and the writ petition allowed.
HC considered whether an existing Prohibition Order and Seizure Order could continue after remand where no confiscation proposal under Section 67(2) had been issued. The court observed no de novo orders were passed post-remand and, because notices did not propose confiscation, held that continuation of prohibition or seizure could not be sustained. Consequently the impugned Prohibition and Seizure Orders were quashed and the writ petition allowed.
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