Business upkeep expenses despite no revenue, director's interest-free advances, and property gift additions-disallowances and notional interest delete...
Insolvency resolution plan's loan assignment between approving and dissenting creditors: post-approval redistribution blocked; original distribution e...
Imports of inshell walnuts under DFIA were held eligible for exemption from basic customs duty under Notification No. 25/2023-Cus because the DFIA permitted import of "other confectionary ingredients" including nut and nut products and "dietary fibre" based on input description and group classification; therefore, non-availability of a specific ITC(HS) tariff line in the licence did not bar clearance when the goods otherwise matched the permitted description. Challenge to the advance ruling was rejected since s.28J aims at certainty and facilitation, and appellate scrutiny under s.28KA is narrowly confined to profoundly illegal, arbitrary, or unreasoned rulings; no such infirmity was shown, so the appeal was dismissed. - HC
Imports of inshell walnuts under DFIA were held eligible for exemption from basic customs duty under Notification No. 25/2023-Cus because the DFIA permitted import of "other confectionary ingredients" including nut and nut products and "dietary fibre" based on input description and group classification; therefore, non-availability of a specific ITC(HS) tariff line in the licence did not bar clearance when the goods otherwise matched the permitted description. Challenge to the advance ruling was rejected since s.28J aims at certainty and facilitation, and appellate scrutiny under s.28KA is narrowly confined to profoundly illegal, arbitrary, or unreasoned rulings; no such infirmity was shown, so the appeal was dismissed. - HC
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