Transaction value between related persons requires market-equivalent pricing; importer must prove declared value mirrors ordinary international trade ...
Classification of exported insecticides under export tariff affirmed; reclassification and related penalties set aside and MEIS scrip jurisdiction rec...
Misclassification between copra and dry coconut: customs recovery and re-valuation quashed for lack of prior licensing-authority invalidation, appeals...
The dominant issue was whether the resolution plan, rejected under s.30(6) of the IBC amid objections on s.29A eligibility, should be approved in light of a post-impugned settlement. The tribunal accepted the settlement terms providing for payment of CIRP costs up to plan approval and enhanced payouts to secured and unsecured financial creditors, noting unanimous consent that approval would resolve grievances. It also held that adverse observations in the impugned order alleging impropriety were unduly excessive in the absence of any auditor finding of fraud or specific avoidance-transaction allegations, and therefore expunged them. Consequently, the impugned orders were quashed and the appeals were allowed. - NCLAT
The dominant issue was whether the resolution plan, rejected under s.30(6) of the IBC amid objections on s.29A eligibility, should be approved in light of a post-impugned settlement. The tribunal accepted the settlement terms providing for payment of CIRP costs up to plan approval and enhanced payouts to secured and unsecured financial creditors, noting unanimous consent that approval would resolve grievances. It also held that adverse observations in the impugned order alleging impropriety were unduly excessive in the absence of any auditor finding of fraud or specific avoidance-transaction allegations, and therefore expunged them. Consequently, the impugned orders were quashed and the appeals were allowed. - NCLAT
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