Concessional Basic Customs Duty on Ethernet switches: classification as enterprise switches upheld, challenge dismissed for lack of substantial law qu...
Insolvency petition based on admitted debt and default upheld; challenge for malicious initiation rejected, settlement may proceed under resolution fr...
Quashing of FIR and challenge to ECIR over alleged diversion of funds and preferential ESOP pricing dismissed after prima facie money-laundering findi...
The dominant issue was whether the ITAT has jurisdiction under s. 254 to stay the operation of an order under appeal even when no subsisting tax demand exists. Relying on settled law that an appellate forum possesses incidental and ancillary powers necessary to make its appellate jurisdiction effective, including grant of stay even absent an express statutory provision, the view that stay can be entertained only if a tax demand has arisen was held legally unsustainable. Consequently, the impugned order refusing to entertain the stay application for lack of jurisdiction was set aside and the matter was remitted for fresh consideration of the stay application during pendency of the appeal. - HC
The dominant issue was whether the ITAT has jurisdiction under s. 254 to stay the operation of an order under appeal even when no subsisting tax demand exists. Relying on settled law that an appellate forum possesses incidental and ancillary powers necessary to make its appellate jurisdiction effective, including grant of stay even absent an express statutory provision, the view that stay can be entertained only if a tax demand has arisen was held legally unsustainable. Consequently, the impugned order refusing to entertain the stay application for lack of jurisdiction was set aside and the matter was remitted for fresh consideration of the stay application during pendency of the appeal. - HC
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