Transferable duty credit scrips validity and bona fide transferee entitlement to exemption upheld where scrips were subsisting at import, appeals allo...
Classification of knocked down motor vehicle component imports: Notification benefit denied because items are standalone non kit parts requiring subst...
Reassessment against a deceased assessee: procedural defect mandates fresh reassessment; nonresponsive petitioner may be treated as legal representati...
Dishonour complaints under s.138 NI Act were examined where the corporate debtor's CIRP had commenced and a liquidator had taken charge before cheque presentation, resulting in return remarks "ACCOUNT BLOCKED." Since the directors were divested of control over bank accounts upon moratorium and insolvency administration, vicarious liability for post-moratorium dishonour could not be fastened on them; the summoning orders were quashed. Independently, "account blocked" due to statutory insolvency restraints is not dishonour "for insufficiency of funds," so the essential ingredient of s.138 was not established; the complaints and all consequential proceedings were quashed. - HC
Dishonour complaints under s.138 NI Act were examined where the corporate debtor's CIRP had commenced and a liquidator had taken charge before cheque presentation, resulting in return remarks "ACCOUNT BLOCKED." Since the directors were divested of control over bank accounts upon moratorium and insolvency administration, vicarious liability for post-moratorium dishonour could not be fastened on them; the summoning orders were quashed. Independently, "account blocked" due to statutory insolvency restraints is not dishonour "for insufficiency of funds," so the essential ingredient of s.138 was not established; the complaints and all consequential proceedings were quashed. - HC
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