Interest on non-renewal of ₹2.22 Cr FDs should be recovered from Officers’ Salary: Bombay HC

Ramkaran Karwa Vs Union of India (Bombay High Court) Conclusion: Commissioner of GST and Central Excise ( CX ) was directed to recover interest from the salaries or retirement benefits of officers responsible for the non-renewal of fixed deposits ( FDs ) arising from seized cash during an investigation. Held: Assesee’s  residence premises were searched and a sum of Rs.2,06,33,000/- was seized on the allegation that same constituted unaccounted receipts arising out of sales made by Perfect Containers Pvt. Ltd. In the course of said investigation Rs.15,94,000/-was also seized from the res...