Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
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...
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The SC held that penalties imposed by the NCDRC are regulatory in nature and do not constitute "debt" under the IBC. The moratorium under Section 96 of IBC does not extend to regulatory penalties imposed for non-compliance with consumer protection laws. The Court distinguished between civil proceedings (generally stayed under IBC provisions) and regulatory penalties, which arise from failure to comply with consumer protection norms rather than from any debt owed to creditors. Such penalties are classified as "excluded debts" under Section 79(15) of IBC and therefore do not benefit from the moratorium. The appellant was directed to comply with the NCDRC penalties within eight weeks.
The SC held that penalties imposed by the NCDRC are regulatory in nature and do not constitute "debt" under the IBC. The moratorium under Section 96 of IBC does not extend to regulatory penalties imposed for non-compliance with consumer protection laws. The Court distinguished between civil proceedings (generally stayed under IBC provisions) and regulatory penalties, which arise from failure to comply with consumer protection norms rather than from any debt owed to creditors. Such penalties are classified as "excluded debts" under Section 79(15) of IBC and therefore do not benefit from the moratorium. The appellant was directed to comply with the NCDRC penalties within eight weeks.
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