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...
Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
Conditional votes on a revival scheme cannot be treated as unqualified statutory assent where attached modifications materially affect allottees' contractual and financial rights. Sanction requires the statutory majority to approve the arrangement ultimately placed before the Court, after the legal effect of conditions, informed stakeholder decision-making, fairness to the affected class, adequate disclosure and individual objections have been assessed. Commercial wisdom of the majority applies only once these statutory safeguards are met. The sanction of the revival scheme was set aside and remanded for fresh consideration, including fresh meetings where required.
Conditional votes on a revival scheme cannot be treated as unqualified statutory assent where attached modifications materially affect allottees' contractual and financial rights. Sanction requires the statutory majority to approve the arrangement ultimately placed before the Court, after the legal effect of conditions, informed stakeholder decision-making, fairness to the affected class, adequate disclosure and individual objections have been assessed. Commercial wisdom of the majority applies only once these statutory safeguards are met. The sanction of the revival scheme was set aside and remanded for fresh consideration, including fresh meetings where required.
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