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...
Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Scope of CIRP costs - Section 5(13) and Regulation 31 - waterfall mechanism - contract was completed during the CIRP period - The Tribunal emphasized that for a claim to be classified as CIRP cost, it must be directly related to maintaining the Corporate Debtor as a going concern and approved by the CoC. The primacy of CoC in such determinations. - Regarding Role of Contractual Terms: The Tribunal noted that payments to RBM Enterprises were contingent on NTPC payments to SHEL, which did not materialize. Therefore, the claim did not qualify as a CIRP cost. - Ultimately, the Tribunal overturned the Adjudicating Authority's order, declaring that the claim by RBM Enterprises does not meet the criteria for CIRP costs and should be classified under Section 53 of the Code for liquidation distribution.
Scope of CIRP costs - Section 5(13) and Regulation 31 - waterfall mechanism - contract was completed during the CIRP period - The Tribunal emphasized that for a claim to be classified as CIRP cost, it must be directly related to maintaining the Corporate Debtor as a going concern and approved by the CoC. The primacy of CoC in such determinations. - Regarding Role of Contractual Terms: The Tribunal noted that payments to RBM Enterprises were contingent on NTPC payments to SHEL, which did not materialize. Therefore, the claim did not qualify as a CIRP cost. - Ultimately, the Tribunal overturned the Adjudicating Authority's order, declaring that the claim by RBM Enterprises does not meet the criteria for CIRP costs and should be classified under Section 53 of the Code for liquidation distribution.
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