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...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
Approved resolution plans extinguish unsubmitted pre-approval tax claims, preventing later recovery outside the insolvency process and preserving a cl...
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The High Court considered a case involving the release of seized goods u/s 110A. The issue was the non-issuance of a show cause notice within the stipulated time due to valuation and duty discrepancies of imported cutting blades. The Court held that a Circular from 2017 was superseded by a 2018 amendment exempting cases with provisional release from the time limit for issuing show cause notices. The Court allowed the appeal, setting aside the Tribunal's order. Two conditions were imposed for provisional release: execution of a bond and a bank guarantee. The Court affirmed the bond condition but directed the respondent to provide a bank guarantee of Rs. 25,00,000/- and a bond for Rs. 40,00,000/- to protect revenue interests. Upon compliance with the conditions, the seized goods would be provisionally released within 10 days. The appeal was disposed of, and the application closed.
The High Court considered a case involving the release of seized goods u/s 110A. The issue was the non-issuance of a show cause notice within the stipulated time due to valuation and duty discrepancies of imported cutting blades. The Court held that a Circular from 2017 was superseded by a 2018 amendment exempting cases with provisional release from the time limit for issuing show cause notices. The Court allowed the appeal, setting aside the Tribunal's order. Two conditions were imposed for provisional release: execution of a bond and a bank guarantee. The Court affirmed the bond condition but directed the respondent to provide a bank guarantee of Rs. 25,00,000/- and a bond for Rs. 40,00,000/- to protect revenue interests. Upon compliance with the conditions, the seized goods would be provisionally released within 10 days. The appeal was disposed of, and the application closed.
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