Unlawful outward remittances via Hawala using proforma invoices and electronic records proved; documents admitted, directors penalised, penalties redu...
Attachment of equivalent-value properties as proceeds of crime upheld; preventive attachment order and confirmation sustained; no independent ED reinv...
Broker trading-system "technical glitch" redefinition and narrowed incident-reporting regime for large IBT/STWT brokers requiring 2-hr notice and 14-w...
High Court found procedural infirmity where the adjudicating authority failed to record reasons for not considering material documents filed in response to assessment; the absence of reasoned consideration vitiated the order and the impugned adjudication was quashed. The authority was directed to revisit paragraph 10 and annexed bills of entry, afford the petitioners an opportunity of hearing, and pass a reasoned, speaking order within three months. Amounts debited from the petitioners' ledger may be considered for refund only conditionally and subject to the final outcome of the reconsideration; entitlement to refund was not decided on merits.
High Court found procedural infirmity where the adjudicating authority failed to record reasons for not considering material documents filed in response to assessment; the absence of reasoned consideration vitiated the order and the impugned adjudication was quashed. The authority was directed to revisit paragraph 10 and annexed bills of entry, afford the petitioners an opportunity of hearing, and pass a reasoned, speaking order within three months. Amounts debited from the petitioners' ledger may be considered for refund only conditionally and subject to the final outcome of the reconsideration; entitlement to refund was not decided on merits.
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