Person chargeable with duty must be the importer at importation; subsequent purchasers cannot be held liable where beneficial owner rules did not appl...
Prohibited importation of cosmetics without prior regulatory registration attracts seizure and confiscation; warehousing or re export claims do not cu...
Provisional release on security permitted where cash deposit plus bond secures differential duty; classification and treaty benefits referred for deci...
Customs Valuation Rule Sequence must be followed; single-comparator re-determination and penalties set aside without comparability or proof of mis-dec...
The Tribunal applied a broad reading of "person aggrieved" under Section 61 IBC and held that both a shareholder-creditor and a decree-holder with garnishee orders had locus to challenge admission of the Section 7 application. It further found that the alleged loan transaction showed same-day fund transfers, round-tripping and other indicators of a sham or collusive arrangement, so the real nature of the transaction had to be examined rather than treating balance-sheet entries or MoUs as conclusive. On that material, it held that no genuine financial debt with disbursal for time value of money was established. The appeals were allowed and the Section 7 admission was set aside.
The Tribunal applied a broad reading of "person aggrieved" under Section 61 IBC and held that both a shareholder-creditor and a decree-holder with garnishee orders had locus to challenge admission of the Section 7 application. It further found that the alleged loan transaction showed same-day fund transfers, round-tripping and other indicators of a sham or collusive arrangement, so the real nature of the transaction had to be examined rather than treating balance-sheet entries or MoUs as conclusive. On that material, it held that no genuine financial debt with disbursal for time value of money was established. The appeals were allowed and the Section 7 admission was set aside.
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