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...
Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
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The NCLAT upheld the adjudicating authority's directive requiring the appellant secured creditor, who realized its security interest outside the liquidation estate under the SARFAESI Act, to deposit proportionate workmen's dues with the liquidator in accordance with Section 13(9) of the SARFAESI Act and Section 326 of the Companies Act, 2013. The secured creditor cannot evade this statutory obligation despite opting out of the liquidation process. However, the tribunal reversed the direction to contribute towards liquidation costs under Section 52(8) of the IBC, clarifying that such costs fall outside the scope of insolvency resolution process costs defined in Section 5(13). Consequently, the appeal was allowed in part, affirming the liability for workmen's dues but negating the requirement to pay liquidation costs from the amount realized.
The NCLAT upheld the adjudicating authority's directive requiring the appellant secured creditor, who realized its security interest outside the liquidation estate under the SARFAESI Act, to deposit proportionate workmen's dues with the liquidator in accordance with Section 13(9) of the SARFAESI Act and Section 326 of the Companies Act, 2013. The secured creditor cannot evade this statutory obligation despite opting out of the liquidation process. However, the tribunal reversed the direction to contribute towards liquidation costs under Section 52(8) of the IBC, clarifying that such costs fall outside the scope of insolvency resolution process costs defined in Section 5(13). Consequently, the appeal was allowed in part, affirming the liability for workmen's dues but negating the requirement to pay liquidation costs from the amount realized.
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