Mark-to-Market losses on principal-protected debentures are deductible as business expenditure when the obligation is crystallized under mercantile ac...
Deferred Payment of Customs Duty extended to Eligible Manufacturer Importers with electronic registration and ICEGATE authentication for conditional c...
Tariff classification determines GST schedule and rate; beverages in Schedule III attract the higher rate, tea extracts and syrups in Schedule I attra...
Fraudulent trading requires cogent evidence of intent to defraud; ordinary-course payments protected, except post-insolvency withdrawals must be resto...
Condonation of delay in a statutory appeal against confiscation of foreign currency was allowed where the delay was not found to be exorbitant or inordinate and refusal would have left the petitioner remediless. Although the appellate authority's power to condone delay was limited and the supporting explanation was not elaborate, the Court held that the right of appeal should not be shut out on the facts of the case. The dismissal of the time-barred appeal was set aside, costs were imposed, and the appellate authority was directed to hear and decide the matter on merits, without treating the decision as a binding precedent.
Condonation of delay in a statutory appeal against confiscation of foreign currency was allowed where the delay was not found to be exorbitant or inordinate and refusal would have left the petitioner remediless. Although the appellate authority's power to condone delay was limited and the supporting explanation was not elaborate, the Court held that the right of appeal should not be shut out on the facts of the case. The dismissal of the time-barred appeal was set aside, costs were imposed, and the appellate authority was directed to hear and decide the matter on merits, without treating the decision as a binding precedent.
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