Debt' owed to the `Appellant', on account of the
`Devolvement of Letter of Credits' in their (i) Balance Sheets
(ii) Financial Statements ... Return for the year 2017-2018
(F) The Respondent had admitted the `Devolvement of Letter of
Credits', in their Letter dated 03.11.2016, stating
Yogesh Das, Jaipur vs Ito, Jaipur on 31 August, 2022
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under the said NFB Facility and on devolvement of them used to deduct
the amount from the collection account of the Corporate Debtor
maintained with ... Corporate Debtor
maintained by it as 'Financial Institution for any devolvement of Letter
of Credit/ Bank Guarantee and made recovery of an aggregate amount
under the said NFB Facility and on devolvement of them used to deduct
the amount from the collection account of the Corporate Debtor
maintained with ... Corporate Debtor
maintained by it as 'Financial Institution for any devolvement of Letter
of Credit/ Bank Guarantee and made recovery of an aggregate amount
confiscating power for
the nonce.
20. These statutory norms are obligatory prescriptions devolving on
person-in-charge of conveyances, custodians and keepers and
importers ... extraordinary power vested in officers of customs by the statute: the
onus devolves on the person from whom it was seized along with
coordinate onus
confiscating power for
the nonce.
20. These statutory norms are obligatory prescriptions devolving on
person-in-charge of conveyances, custodians and keepers and
importers ... extraordinary power vested in officers of customs by the statute: the
onus devolves on the person from whom it was seized along with
coordinate onus
necessity,
in terms of consequential detriment, for invoking the
provision. Concomitantly, it devolves on the 'proper officer'
to place the applicant on notice ... other than having exported notified goods to notified
markets/countries, devolving on exporters. There is no dispute on
facts arising therefrom insofar as the impugned
confiscating power for
the nonce.
20. These statutory norms are obligatory prescriptions devolving on
person-in-charge of conveyances, custodians and keepers and
importers ... extraordinary power vested in officers of customs by the statute: the
onus devolves on the person from whom it was seized along with
coordinate onus
November, 2011 amounting to Rs. 2,27,15,776/- got
devolved on the assessee and the same has been paid by the assessee
and claimed ... July, 2008
to November, 2011 of Rs. 2,27,15,776/ got devolved on the assessee,
which was accounted in the current year
contained a condition
- Clause 220-whereby MRPL's liabilities devolved on MIPL.
iii. The original return of income was not revised even
though ... particular cause or
action, upon whom the assets might have devolved or upon
whom the liability in the event it is adjudicated, would fall
