Customs valuation must use comparable contemporary imports, while confiscation fines and penalties require proportionate recalculation on reassessed v...
Depositor-protection proceedings prevail over corporate insolvency, while liquidators may recover chit receivables using copies of seized company reco...
Intermediary service classification fails where overseas admission facilitation is supplied independently, preserving export treatment and small-provi...
Satellite transponder bandwidth is telecommunication, not Business Support Service; foreign non-telegraph providers triggered no service tax liability...
Commitment proceedings gain extended timelines, structured defect refiling, and automatic resumption of inquiry after the adjusted completion period e...
Forfeiture of a successful bidder's part payment before expiry of an expressly extended period for paying the auction balance is arbitrary. A payment communication allowing payment beyond the original deadline with interest for up to 60 days made forfeiture operative only upon default continuing after that period. Discretion under the payment schedule to extend the timeline and the regulatory framework for delayed payment with interest did not permit earlier cancellation or forfeiture. Where the asset was subsequently sold and consideration realised, retention of the part payment was unjustified. The forfeiture was set aside to the extent of refunding the part payment without interest.
Forfeiture of a successful bidder's part payment before expiry of an expressly extended period for paying the auction balance is arbitrary. A payment communication allowing payment beyond the original deadline with interest for up to 60 days made forfeiture operative only upon default continuing after that period. Discretion under the payment schedule to extend the timeline and the regulatory framework for delayed payment with interest did not permit earlier cancellation or forfeiture. Where the asset was subsequently sold and consideration realised, retention of the part payment was unjustified. The forfeiture was set aside to the extent of refunding the part payment without interest.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
