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...
The article addresses validity of cash seizures under the CGST framework, holding that seizure under the statute requires a recorded 'reason to believe' that goods, documents, books or things relevant to proceedings are secreted at a place; absence of such reasons rendered the cash seizure arbitrary and unlawful. It further explains that failure to issue the statutorily mandated notice within the six month period obliges return of seized items, and that transferring seized cash to another agency without statutory authority compounds illegality; consequent remedy ordered was release and payment with interest.
The article addresses validity of cash seizures under the CGST framework, holding that seizure under the statute requires a recorded 'reason to believe' that goods, documents, books or things relevant to proceedings are secreted at a place; absence of such reasons rendered the cash seizure arbitrary and unlawful. It further explains that failure to issue the statutorily mandated notice within the six month period obliges return of seized items, and that transferring seized cash to another agency without statutory authority compounds illegality; consequent remedy ordered was release and payment with interest.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4819 
Join Channel 
