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...
Cancellation of private bonded warehouse licences and MOOWR permission under s.58B was challenged on the ground that the Commissioner lacked statutory power absent any contravention by the licensee. The Tribunal held that after the Finance Act, 2016, a licence issued under s.58 cannot be cancelled merely because the Commissioner later considers it wrongly granted; cancellation under s.58B is permissible only upon violation of the Customs Act, Rules, or licence conditions. Since no breach was alleged or established, the cancellations were without jurisdiction. It was further held that neither the Act nor MOOWR, 2019 empowers the Commissioner to restrict warehousing based on the nature of goods beyond compliance with ss.59-60. The impugned orders were set aside and the appeal was allowed. - CESTAT
Cancellation of private bonded warehouse licences and MOOWR permission under s.58B was challenged on the ground that the Commissioner lacked statutory power absent any contravention by the licensee. The Tribunal held that after the Finance Act, 2016, a licence issued under s.58 cannot be cancelled merely because the Commissioner later considers it wrongly granted; cancellation under s.58B is permissible only upon violation of the Customs Act, Rules, or licence conditions. Since no breach was alleged or established, the cancellations were without jurisdiction. It was further held that neither the Act nor MOOWR, 2019 empowers the Commissioner to restrict warehousing based on the nature of goods beyond compliance with ss.59-60. The impugned orders were set aside and the appeal was allowed. - CESTAT
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