Allow deduction under s.36(1)(vii) for accounting write-offs; delete s.36(1)(iii) disallowances on business interest including advances to related ent...
Assessee entitled to depreciation on slump-sale goodwill; s.43(1)/43(6 explanations inapplicable; goodwill and non-compete amortisation treated as non...
The HC allowed the petition, holding that the impugned withdrawal of Petitioner No.1's Customs Broker Licence was unlawful and procedurally impermissible. The court found Petitioner No.2, a director of Petitioner No.1, had satisfied Regulation 6/7 of the Customs Brokers Licensing Regulations, 2018 by clearing the prescribed examinations, thereby fulfilling statutory eligibility for a Form-B2 licence. The respondents' public notice amounted in substance to revocation without invoking the Regulation 17 procedure for revocation or penalty under Regulation 14, rendering the withdrawal ultra vires. The HC quashed and set aside the withdrawal/notice and directed that the licence be treated as valid in accordance with the Regulations.
The HC allowed the petition, holding that the impugned withdrawal of Petitioner No.1's Customs Broker Licence was unlawful and procedurally impermissible. The court found Petitioner No.2, a director of Petitioner No.1, had satisfied Regulation 6/7 of the Customs Brokers Licensing Regulations, 2018 by clearing the prescribed examinations, thereby fulfilling statutory eligibility for a Form-B2 licence. The respondents' public notice amounted in substance to revocation without invoking the Regulation 17 procedure for revocation or penalty under Regulation 14, rendering the withdrawal ultra vires. The HC quashed and set aside the withdrawal/notice and directed that the licence be treated as valid in accordance with the Regulations.
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