Enforcement of resolution-plan directions continues without a Supreme Court stay, preventing suspension of redistribution and escrowed-fund distributi...
Third-party ownership claims over attached property require Special Court adjudication where purchasers lack registered sale deeds and bona fides rema...
Pure-agent reimbursements in clearing and forwarding services are excluded from taxable value when qualifying third-party payments are properly record...
Customs relief for Strait of Hormuz maritime disruptions remains available, with existing conditions continuing unchanged through the extended validit...
Liability to pay customs duty when confiscated goods are redeemed after payment of fine u/s 125 of the Customs Act, 1962 includes liability to pay interest on delayed payment u/s 28AB. The customs duty obligation arises only after exercising the option to redeem confiscated goods u/s 125. Once exercised, acceptance is subject to conditions specified, primarily payment of fine in lieu of confiscation. This duty obligation is inextricably connected to the redemption option and is a precondition. The duty obligation does not occasion u/ss 12 or 28 but arises due to the option exercised u/s 125. Section 28 applies for assessing and determining the duty payable u/s 125(2). Once Section 28 applies, interest on delayed payment arises u/s 28AB, obligating payment of interest in addition to duty. The Jagdish Cancer case is not an authority against applying Section 28 for duty calculation when liability arises u/s 125.
Liability to pay customs duty when confiscated goods are redeemed after payment of fine u/s 125 of the Customs Act, 1962 includes liability to pay interest on delayed payment u/s 28AB. The customs duty obligation arises only after exercising the option to redeem confiscated goods u/s 125. Once exercised, acceptance is subject to conditions specified, primarily payment of fine in lieu of confiscation. This duty obligation is inextricably connected to the redemption option and is a precondition. The duty obligation does not occasion u/ss 12 or 28 but arises due to the option exercised u/s 125. Section 28 applies for assessing and determining the duty payable u/s 125(2). Once Section 28 applies, interest on delayed payment arises u/s 28AB, obligating payment of interest in addition to duty. The Jagdish Cancer case is not an authority against applying Section 28 for duty calculation when liability arises u/s 125.
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