Attachment and proclamation of sale of immovable property: limitation treated from financial year end; proclamation held within period, petition dismi...
Second Schedule attachment and validity of a post-notice mortgage: TRO cannot declare mortgage void ab initio; sale and appropriation allowed thereaft...
Limitation for final assessment under sections 144C and 153 treated jointly, resulting in quashing of timebarred assessment order and liberty to reviv...
Deductibility of settlement payments for securities law penalties and treatment of unexplained cash credits in share trading -- Tribunal upholds posit...
Threshold for allottee-initiated insolvency petitions in leasehold real estate upheld; petition admitted after possession letters deemed legally ineff...
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Valuation by check-post authorities under Sections 129/130 cannot determine tax liability; such valuation is reserved to the jurisdictional Assessing Authority, and interception/confiscation proceedings at transit check posts must refer valuation disputes to that authority, resulting here in refusal to uphold valuation-based seizures. Non-compliance with Rule 138C's contemporaneous online inspection report (Form A) requirement vitiated the detention/confiscation basis and warranted interlocutory release of goods and detained vehicles. Sampling must be redone: samples drawn in triplicate, sealed and countersigned with petitioners or representatives, with one part forwarded to the jurisdictional Assessing Officer who may proceed with assessment.
Valuation by check-post authorities under Sections 129/130 cannot determine tax liability; such valuation is reserved to the jurisdictional Assessing Authority, and interception/confiscation proceedings at transit check posts must refer valuation disputes to that authority, resulting here in refusal to uphold valuation-based seizures. Non-compliance with Rule 138C's contemporaneous online inspection report (Form A) requirement vitiated the detention/confiscation basis and warranted interlocutory release of goods and detained vehicles. Sampling must be redone: samples drawn in triplicate, sealed and countersigned with petitioners or representatives, with one part forwarded to the jurisdictional Assessing Officer who may proceed with assessment.
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