Threshold for allottee-initiated insolvency petitions in leasehold real estate upheld; petition admitted after possession letters deemed legally ineff...
Contravention of foreign exchange rules in crossborder diamond payments; appellate tribunal reduces one appellant's penalty for delay and proportional...
RPA (Remote Pilot Aircraft) for military use defined to include drones/UAV/UAS; exemptions limited to specified defence imports with Joint Secretary c...
Transfer of going concern and transfer of input tax credit under GST allowed; exemption applies though interstate ledger transfers left to authorities...
Where Bills of Entry were assessed provisionally under s.18 of the Customs Act, the assessing authority was required to consider, at finalisation, the importer's claim for NIL duty at the preferential rate under the India-UAE CEPA notification, even if the benefit was not claimed at filing or at out-of-charge and even if the country-of-origin certificate was issued retrospectively, provided the notification conditions were otherwise satisfied. Treating the matter as governed by s.17 and refusing to apply precedent on provisional assessment was held erroneous. The finalisation order was set aside and the matter remanded to reconsider eligibility in light of the later CBIC Instruction No. 21/2024-Customs and the tribunal's observations - CESTAT
Where Bills of Entry were assessed provisionally under s.18 of the Customs Act, the assessing authority was required to consider, at finalisation, the importer's claim for NIL duty at the preferential rate under the India-UAE CEPA notification, even if the benefit was not claimed at filing or at out-of-charge and even if the country-of-origin certificate was issued retrospectively, provided the notification conditions were otherwise satisfied. Treating the matter as governed by s.17 and refusing to apply precedent on provisional assessment was held erroneous. The finalisation order was set aside and the matter remanded to reconsider eligibility in light of the later CBIC Instruction No. 21/2024-Customs and the tribunal's observations - CESTAT
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