Timing mismatch in income recognition requires verification whether receipts were already taxed in an earlier year; matter remitted for fresh examinat...
FOB transaction value and export incentives: customs valuation cannot override contractual export benefits or support confiscation without valid proof...
Interim release conditions imposed in writ petitions challenging confiscation orders under Section 130 were upheld because detention matters under Section 129 were not comparable. The Court held that once confiscation is ordered under Section 130, title to the goods and conveyance vests in the Government, and the release mechanism under Section 129 no longer applies. Accordingly, interim terms framed for detention proceedings could not be imported into confiscation cases, and the appellants were not entitled to parity with orders passed in other Section 129 matters. The refusal to modify the interim orders was found to be in accordance with law, and both writ appeals were dismissed.
Interim release conditions imposed in writ petitions challenging confiscation orders under Section 130 were upheld because detention matters under Section 129 were not comparable. The Court held that once confiscation is ordered under Section 130, title to the goods and conveyance vests in the Government, and the release mechanism under Section 129 no longer applies. Accordingly, interim terms framed for detention proceedings could not be imported into confiscation cases, and the appellants were not entitled to parity with orders passed in other Section 129 matters. The refusal to modify the interim orders was found to be in accordance with law, and both writ appeals were dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
