HC held that currency is not "goods" under the Central Goods and ...

Cash Not "Goods" Under CGST Act, High Court Rules; Orders Return of Seized Rs. 23,50,000 with Interest.

January 10, 2025

Case Laws GST HC

HC held that currency is not "goods" under the Central Goods and Services Tax Act, 2017. Seizure of Rs. 23,50,000/- cash from petitioner was unlawful u/s 67. HC quashed seizure order and directed respondents to return seized amount along with applicable interest to petitioner expeditiously. Petition allowed.

View Source

← Previous Next →

HC held that currency is not "goods" under the Central Goods and ...

Cash Not "Goods" Under CGST Act, High Court Rules; Orders Return of Seized Rs. 23,50,000 with Interest.

January 10, 2025

Case Laws GST HC

You may also like:

The Income Tax Settlement Commission passed an order charging interest u/ss 234A, 234B, and 234C of the Income Tax Act. The petitioners challenged the order's...

Demand Interest u/s 201(1A) - Non deduction TDS u/s 194IA - As per the sale deed the details of the sellers / transferors of the said property and in fact the sellers...

ITAT held revisionary powers under s.263 cannot be invoked as assessment order was neither erroneous nor prejudicial to Revenue's interests. During survey, assessee...

The court held that the tax liability arising from the deletion of additions under the remand order would be less than Rs. 1,00,00,000, rendering the appeal...

In the case, ITAT decided on two main issues: 1. Addition on account of Gold and Silver Jewellery u/s 69A: Assessee disclosed Rs. 70,00,000 as unexplained investment...

HC allowed the petition and set aside the impugned order and notice u/s 148A(b). AO failed to establish that petitioner had received any amount exceeding Rs. 50,00,000/-...

The assessment years beyond six years but not exceeding ten years can be reopened u/s 153A only if the Assessing Officer possesses evidence depicting escapement of...

Interest u/s 234 B - Advance tax - Adjustment / Credit for cash as seized - there is no prohibition to adjust the seized cash with self assessment tax. What is...

Imported goods classification disputed - whether silver jewellery freely importable or restricted category under ITC (HS) Code 71069210. Court found respondent's...

Reopening of assessment beyond three years requires sanction from Principal Chief Commissioner of Income Tax, whereas the assessee obtained sanction from Principal...

Customs officials seized gold jewelry from petitioners on 23-02-2023. Section 110(2) of Customs Act, 1962 mandates issuing show cause notice u/s 124 within six months of...

The case involved legality of assessment u/s 153A without search or Panchnama. The search warrant named the assessee company, rejecting the objection. No incriminating...

ITAT partially allowed appeal concerning assessment year 2013-14. Given assessee's cash-based business nature and bank deposits consistent with disclosed turnover,...

In accordance with CBDT Instruction No. 3 of 2017, the AO exceeded jurisdiction by conducting inquiry into cash deposits up to Rs. 2.5 lakhs by an individual without...

KVAT Act - demand of additional security f Rs.50,00,000/- - orders demanding additional security and registration cancelled set aside - matter remanded for fresh decision - HC

Quick Updates: