International transaction characterisation of domestic divestment of support services business rejected; transaction between resident associated enter...
Minimum Import Price restrictions for Black Pepper, Areca-nuts and Apples upheld; procedural laying failure not fatal, notifications to be placed befo...
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...
Limitation for a Section 9 IBC application based on MSME Council awards was examined, specifically whether issuance of a Section 8 demand notice in 2019 revived limitation for an application filed in 2020. It was held that the 10-day period after service of a Section 8 notice is only a condition precedent to filing and cannot be used to compute or extend limitation. The limitation period is governed by Article 137 of the Limitation Act, requiring filing within three years from when the right to sue accrues, i.e., when the award became final and operative. Since the claim was already time-barred when the Section 8 notice was issued, the application remained barred and the appeal was dismissed - NCLAT
Limitation for a Section 9 IBC application based on MSME Council awards was examined, specifically whether issuance of a Section 8 demand notice in 2019 revived limitation for an application filed in 2020. It was held that the 10-day period after service of a Section 8 notice is only a condition precedent to filing and cannot be used to compute or extend limitation. The limitation period is governed by Article 137 of the Limitation Act, requiring filing within three years from when the right to sue accrues, i.e., when the award became final and operative. Since the claim was already time-barred when the Section 8 notice was issued, the application remained barred and the appeal was dismissed - NCLAT
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