Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
Transaction value cannot be rejected solely on non-statutory valuation guidelines without corroborative evidence supporting reassessment of final cust...
Cross-examination rights and corroborated evidence limit customs penalties for misdeclaration in genuine import transactions involving documented clea...
Tariff classification of vehicle gear components follows the specific gearing entry, displacing motor-vehicle parts classification and related liabili...
A registered assignment deed may operate retrospectively from its execution under Section 47 of the Registration Act, allowing an asset reconstruction company's assigned financial debt to be considered in a corporate insolvency application despite registration after execution. The notes also explain that production and admission of the relevant trust deed cures the deficiency concerning the company's authority to institute proceedings. Accordingly, rejection based on non-registration of the assignment deed or non-production of the trust deed cannot stand, and the insolvency application must be reconsidered on its merits. The issue of stamp duty under the Kerala Stamp Act remained undetermined.
A registered assignment deed may operate retrospectively from its execution under Section 47 of the Registration Act, allowing an asset reconstruction company's assigned financial debt to be considered in a corporate insolvency application despite registration after execution. The notes also explain that production and admission of the relevant trust deed cures the deficiency concerning the company's authority to institute proceedings. Accordingly, rejection based on non-registration of the assignment deed or non-production of the trust deed cannot stand, and the insolvency application must be reconsidered on its merits. The issue of stamp duty under the Kerala Stamp Act remained undetermined.
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