Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Cancellation of MEIS scrips - Re- classification of the goods - Export of “Lamda Cyhalothrin Technical” - The Tribunal upheld the appellant's classification, emphasizing that only DGFT had the authority to cancel MEIS scrips. The Customs Department lacked the power to invalidate exports based on alleged misclassification. The Tribunal reiterated that customs authorities cannot invalidate exports or cancel MEIS scrips without DGFT's action. They emphasized the need for DGFT to follow due procedure under the FTDR Act and FTP for such cancellations. The Tribunal affirmed the separation of roles between customs and licensing authorities. Customs authorities should not interfere with licensing policies or reclassify goods after valid licenses are issued.
Cancellation of MEIS scrips - Re- classification of the goods - Export of “Lamda Cyhalothrin Technical” - The Tribunal upheld the appellant's classification, emphasizing that only DGFT had the authority to cancel MEIS scrips. The Customs Department lacked the power to invalidate exports based on alleged misclassification. The Tribunal reiterated that customs authorities cannot invalidate exports or cancel MEIS scrips without DGFT's action. They emphasized the need for DGFT to follow due procedure under the FTDR Act and FTP for such cancellations. The Tribunal affirmed the separation of roles between customs and licensing authorities. Customs authorities should not interfere with licensing policies or reclassify goods after valid licenses are issued.
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