Timing mismatch in income recognition requires verification whether receipts were already taxed in an earlier year; matter remitted for fresh examinat...
FOB transaction value and export incentives: customs valuation cannot override contractual export benefits or support confiscation without valid proof...
The NCLAT held that a bidder excluded from an e-auction due to an alleged technical glitch had shown bona fide participation: the record showed registration, document upload, EMD deposit, repeated logins and prompt complaints about the unavailable pre-qualification link, while the liquidator's communications did not clearly identify that separate step or its deadline. The Tribunal found that abandonment, lack of seriousness and false plea of technical difficulty could not be inferred without technical verification from the auction platform, and the benefit of doubt had to go to the bidder. It further held that concluded auctions may be reopened where exclusion and inadequate pricing affect value maximization, and directed a fresh e-auction open to all eligible bidders.
The NCLAT held that a bidder excluded from an e-auction due to an alleged technical glitch had shown bona fide participation: the record showed registration, document upload, EMD deposit, repeated logins and prompt complaints about the unavailable pre-qualification link, while the liquidator's communications did not clearly identify that separate step or its deadline. The Tribunal found that abandonment, lack of seriousness and false plea of technical difficulty could not be inferred without technical verification from the auction platform, and the benefit of doubt had to go to the bidder. It further held that concluded auctions may be reopened where exclusion and inadequate pricing affect value maximization, and directed a fresh e-auction open to all eligible bidders.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4807 
Join Channel 
