Benami property exclusion from the insolvency estate: Benami Act proceedings preclude IBC tribunals from reopening attachments or treating such assets...
Exclusion of limitation period: pandemic suspension plus debtor acknowledgement can extend limitation, requiring fresh factfinding on guarantee invoca...
Imported scrap valuation was discussed in the context of reassessment based on NIDB data and contemporaneous imports. The Tribunal applied its earlier ruling, following the Delhi High Court view, that enhancement of declared value cannot rest solely on such data without legally sufficient justification under the valuation scheme, and that payment of enhanced duty to obtain clearance does not prevent the importer from challenging the reassessment in appeal. On that basis, the impugned order was held unsustainable and the appeals were allowed with consequential relief.
Imported scrap valuation was discussed in the context of reassessment based on NIDB data and contemporaneous imports. The Tribunal applied its earlier ruling, following the Delhi High Court view, that enhancement of declared value cannot rest solely on such data without legally sufficient justification under the valuation scheme, and that payment of enhanced duty to obtain clearance does not prevent the importer from challenging the reassessment in appeal. On that basis, the impugned order was held unsustainable and the appeals were allowed with consequential relief.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4819 
Join Channel 
