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...
The CESTAT upheld the respondents' case, ruling that the allegations of fraudulently obtaining Duty Free Credit Entitlement (DFCE) licenses and engaging in circular trading of cut and polished diamonds were unfounded. The Tribunal affirmed that the DFCE licenses used for imports were valid, as the DGFT had not cancelled or modified them. Consequently, the demands for duty, confiscation of goods, and penalties were dismissed, and the Revenue's appeal was rejected.
The CESTAT upheld the respondents' case, ruling that the allegations of fraudulently obtaining Duty Free Credit Entitlement (DFCE) licenses and engaging in circular trading of cut and polished diamonds were unfounded. The Tribunal affirmed that the DFCE licenses used for imports were valid, as the DGFT had not cancelled or modified them. Consequently, the demands for duty, confiscation of goods, and penalties were dismissed, and the Revenue's appeal was rejected.
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