Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
Employee conflict disclosures and investment restrictions expand with new recusal duties, post-employment limits, and compliance reporting requirement...
Fire-damaged motor cars brought with a vessel for ship-breaking may be classified as scrap where extensive damage has destroyed their identity and utility as motor vehicles, and salvage arrangements restrict disposal to demolition. Such goods are not restricted commercial or passenger vehicles, usable second-hand goods, or prohibited imports; confiscation for import without a licence is therefore not attracted. Unloading requires physical removal of cargo from a vessel; berthing at a notified ship-breaking port is not unloading. Where no unauthorised removal or other statutory contravention is established, neither the scrap cargo nor the vessel carrying it is liable to confiscation, and consequential penalties are unsustainable.
Fire-damaged motor cars brought with a vessel for ship-breaking may be classified as scrap where extensive damage has destroyed their identity and utility as motor vehicles, and salvage arrangements restrict disposal to demolition. Such goods are not restricted commercial or passenger vehicles, usable second-hand goods, or prohibited imports; confiscation for import without a licence is therefore not attracted. Unloading requires physical removal of cargo from a vessel; berthing at a notified ship-breaking port is not unloading. Where no unauthorised removal or other statutory contravention is established, neither the scrap cargo nor the vessel carrying it is liable to confiscation, and consequential penalties are unsustainable.
Note: It is a system-generated summary and is for quick reference only.
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